Search Results
Journal Article
Where has all the paper gone? Book-entry delivery-against-payment systems
McAndrews, James J.
(1992-11)
Business Review
, Issue Nov
, Pages 19-30
Working Paper
Shared ownership and pricing in a network switch
Rob, Rafael; McAndrews, James J.
(1994)
Working Papers
, Paper 94-6
Discussion Paper
Did the Fed’s Term Auction Facility Work?
Sarkar, Asani; McAndrews, James J.; Wang, Zhenyu
(2011-10-11)
The Federal Reserve introduced the Term Auction Facility (TAF) in December 2007 to provide term loans to banks during the recent financial crisis. In this post, we report on the effectiveness of the TAF during the early stages of the crisis. We find that the TAF was associated with a decrease in the “liquidity premium,” one component of a bank’s borrowing cost. In other words, the TAF worked as intended.
Liberty Street Economics
, Paper 20111011
Speech
Modern recipes for financial crises
McAndrews, James J.
(2015-12-04)
Remarks at the University of Iowa, December 4, 2015.
Speech
, Paper 190
Speech
Economic research and stress testing
McAndrews, James J.
(2015-06-24)
Remarks at the Fourth Annual Stress Test Modeling Symposium, Federal Reserve Bank of Boston, Boston, Massachusetts.
Speech
, Paper 173
Working Paper
Regional authorities, public services, and the location of economic activity
Voith, Richard; McAndrews, James J.
(1990)
Working Papers
, Paper 90-17
Report
Quantifying the benefits of a liquidity-saving mechanism
McAndrews, James J.; Martin, Antoine; Atalay, Enghin
(2010)
This paper attempts to quantify the benefits associated with operating a liquidity-saving mechanism (LSM) in Fedwire, the large-value payment system of the Federal Reserve. Calibrating the model of Martin and McAndrews (2008), we find that potential gains are large compared to the likely cost of implementing an LSM, on the order of hundreds of thousands of dollars per day.
Staff Reports
, Paper 447
Journal Article
The Federal Reserve's Term Auction Facility
Armantier, Olivier; Krieger, Sandra C.; McAndrews, James J.
(2008-07)
As liquidity conditions in the term funding markets grew increasingly strained in late 2007, the Federal Reserve began making funds available directly to banks through a new tool, the Term Auction Facility (TAF). The TAF provides term funding on a collateralized basis, at interest rates and amounts set by auction. The facility is designed to improve liquidity by making it easier for sound institutions to borrow when the markets are not operating efficiently.
Current Issues in Economics and Finance
, Volume 14
, Issue Jul
Conference Paper
Can small banks survive deregulation? the role of the Fed in the correspondent banking market
Strahan, Philip E.; McAndrews, James J.
(2001)
Proceedings
, Paper 716
Working Paper
Worker debt with bankruptcy
McAndrews, James J.; Nakamura, Leonard I.
(1991)
Working Papers
, Paper 91-2
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