Journal Article
The Mechanics of Fed Balance Sheet Normalization
Estenssoro, Amalia; Kliesen, Kevin L. (2023-08-23)
As the Fed continues to normalize its balance sheet, lessons from past tightening episodes and projections of possible futures may help achieve the optimal amount of reserves in the banking system and avoid undo financial stress.
Economic Synopses , Issue 18 , Pages 3 pages

Journal Article
Balance Sheet Normalization: Monitoring Quantities and Prices
Estenssoro, Amalia; Kliesen, Kevin L. (2024-05-03)
Central bank policymakers watch the spread between “repo” rates and the interest rate on reserve balances to gauge financial market stress and guide balance sheet normalization.
Economic Synopses , Issue 10 , Pages 3 pages

Banking Analytics: The Growing Connection between Bank and Nonbank Sectors
Estenssoro, Amalia; Romanko, Reed (2025-06-30)
U.S. banks have steadily increased lending to nondepository financial institutions, such as mortgage firms and insurers, in recent years. What is the composition of these loans to NDFIs?
On the Economy

Banking Analytics: Understanding the Composition of Bank Loan Portfolios
Romanko, Reed; Estenssoro, Amalia (2025-05-19)
In the fourth quarter of 2024, commercial real estate loans represented a quarter of U.S. banks’ loan portfolios. What other types of loans did these institutions hold?
On the Economy

Journal Article
Mapping the Global Shadow Banking System
Estenssoro, Amalia (2013-01)
Central Banker , Issue Winter

Journal Article
Central Bank Digital Currencies: Back to the Future
Estenssoro, Amalia (2021-04-30)
Central bank digital currencies promise to be a new form of money that could greatly increase the efficiency of future payment and settlement systems worldwide.
The Regional Economist

Journal Article
European sovereign debt remains largely a European problem
Estenssoro, Amalia (2010-10)
The rapidly mounting debts of the governments of Greece and other European countries caught policymakers off guard earlier this year and caused a panic in the markets. But a review of who holds the debt of these countries shows that any contagion risk should be confined to Europe.
The Regional Economist , Issue Oct , Pages 4-5

Journal Article
A Decade after the Crisis, Has the Global Debt Burden Stabilized?
Estenssoro, Amalia (2019)
The debt-to-GDP ratio shows signs of stabilization in advanced economies, but less so in emerging economies.
The Regional Economist , Volume 27 , Issue 3