Search Results
Working Paper
Channel systems: Why is there a positive spread?
Marchesiani, Alessandro; Berentsen, Aleksander; Waller, Christopher J.
(2010)
An increasing number of central banks implement monetary policy via two standing facilities: a lending facility and a deposit facility. In this paper we show that it is socially optimal to implement a non-zero interest rate spread. We prove this result in a dynamic general equilibrium model where market participants have heterogeneous liquidity needs and where the central bank requires government bonds as collateral. We also calibrate the model and discuss the behavior of the money market rate and the volumes traded at the ECB?s deposit and lending facilities in response to the recent ...
Working Papers
, Paper 2010-049
Report
Domestic open market operations during 2004
anonymous
(2004)
Annual Report Domestic Open Market Operations
Journal Article
A review of Federal Reserve policy targets and operating guides in recent decades
Meulendyke, Ann-Marie
(1988-10)
Quarterly Review
, Volume 13
, Issue Aut
, Pages 6-17
Speech
Fixing wholesale funding to build a more stable financial system
Dudley, William
(2013-02-01)
Remarks at the New York Bankers Association's 2013 Annual Meeting & Economic Forum, The Waldorf Astoria, New York City.
Speech
Speech
The Federal Reserve’s Market Functioning Purchases: From Supporting to Sustaining
Logan, Lorie
(2020-07-15)
Remarks at SIFMA Webinar.
Speech
Discussion Paper
The Treasury Market Practices Group: A Consequential First Decade
Garbade, Kenneth D.; Mithal, Radhika; Keane, Frank M.
(2017-09-26)
The Treasury Market Practices Group (TMPG) was formed in February 2007 in response to the appearance of some questionable trading practices in the secondary market for U.S. Treasury securities. (A history of the origins of the TMPG is available here.) Left unaddressed, the practices threatened to harm the efficiency and integrity of an essential global benchmark market. The Group responded by identifying and publicizing “best practices” in trading Treasury securities—a statement of behavioral norms intended to maintain a level and competitive playing field for all market participants. ...
Liberty Street Economics
, Paper 20170926
Journal Article
Right on target
Davies, Phil
(2004-12)
A behind-the-scenes look at the Fed?s open market operations.
The Region
, Volume 18
, Issue Dec
, Pages 38-41, 46-48
Journal Article
Open market operations in long-term securities
Riefler, Winfield W.
(1958-11)
Federal Reserve Bulletin
, Issue Nov
, Pages 1260-1274
Report
Domestic open market operations during 1996
Cohen, Gerald D.; Fisher, Peter R.
(1996)
Annual Report Domestic Open Market Operations
Journal Article
Open market operations during 1997
Tulpan, Ted; Hilton, R. Spence; Fisher, Peter R.; Cheng, Virginia
(1998-07)
In 1997 the Trading Desk at the Federal Reserve Bank of New York managed reserve conditions with the objective of maintaining the federal funds rate around the level desired by the Federal Open Market Committee. In 1997 the portfolio of domestic securities in the System Open Market Account expanded by a record $41 billion (excluding all temporary operations), ending the year at $448 billion. Outright purchases of Treasury securities totaled $44 billion, offset to a small degree by redemptions of some Treasury and federal agency issues. The growth in the portfolio during 1997 was significantly ...
Federal Reserve Bulletin
, Issue Jul
FILTER BY year
FILTER BY Bank
Federal Reserve Bank of New York 47 items
Board of Governors of the Federal Reserve System (U.S.) 20 items
Federal Reserve Bank of St. Louis 11 items
Federal Reserve Bank of San Francisco 7 items
Federal Reserve Bank of Atlanta 5 items
Federal Reserve Bank of Chicago 5 items
Federal Reserve Bank of Minneapolis 3 items
Federal Reserve Bank of Richmond 3 items
Federal Reserve Bank of Boston 2 items
Federal Reserve Bank of Kansas City 2 items
Federal Reserve Bank of Philadelphia 2 items
Federal Reserve Bank of Dallas 1 items
show more (7)
show less
FILTER BY Series
Speech 16 items
Federal Reserve Bulletin 11 items
Annual Report Domestic Open Market Operations 10 items
Staff Reports 9 items
Working Papers 9 items
Finance and Economics Discussion Series 5 items
Quarterly Review 5 items
Working Paper Series 5 items
Economic Policy Review 4 items
FRBSF Economic Letter 4 items
FRB Atlanta Working Paper 3 items
Review 3 items
Working Paper 3 items
Economic Review 2 items
Monograph 2 items
New England Economic Review 2 items
Page One Economics Newsletter 2 items
Proceedings 2 items
Research Paper 2 items
The Region 2 items
Business Review 1 items
Economic Perspectives 1 items
Economics Update 1 items
Liberty Street Economics 1 items
Research Working Paper 1 items
Working Paper Series, Macroeconomic Issues 1 items
Working Papers in Applied Economic Theory 1 items
show more (22)
show less
FILTER BY Content Type
Journal Article 36 items
Working Paper 28 items
Report 21 items
Speech 16 items
Conference Paper 2 items
Monograph 2 items
Newsletter 2 items
Discussion Paper 1 items
show more (3)
show less
FILTER BY Author
Fisher, Peter R. 9 items
Hilton, R. Spence 7 items
anonymous 7 items
Thornton, Daniel L. 6 items
Sack, Brian P. 5 items
Garbade, Kenneth D. 4 items
Potter, Simon M. 4 items
Ihrig, Jane E. 3 items
Kos, Dino 3 items
Martin, Antoine 3 items
Meulendyke, Ann-Marie 3 items
Schreft, Stacey L. 3 items
Baxter, Thomas C. 2 items
Bernanke, Ben S. 2 items
Campbell, Jeffrey R. 2 items
Cheng, Virginia 2 items
Cohen, Gerald D. 2 items
Curdia, Vasco 2 items
Demiralp, Selva 2 items
Espinosa-Vega, Marco A. 2 items
Ferrero, Andrea 2 items
Fleming, Michael J. 2 items
Keir, Peter M. 2 items
Krieger, Sandra C. 2 items
Logan, Lorie 2 items
Monnet, Cyril 2 items
Orphanides, Athanasios 2 items
Remolona, Eli M. 2 items
Roberds, William 2 items
Runkle, David E. 2 items
Russell, Steven 2 items
Smith, Bruce D. 2 items
Sternlight, Peter D. 2 items
Tulpan, Ted 2 items
Weber, Jacob P. 2 items
Weinbach, Gretchen C. 2 items
Whiteman, Charles H. 2 items
Wolla, Scott A. 2 items
Axilrod, Stephen H. 1 items
Bartolini, Leonardo 1 items
Bauer, Michael D. 1 items
Berentsen, Aleksander 1 items
Bomfim, Antúlio N. 1 items
Camilli, Kathleen M. 1 items
Chabot, Benjamin 1 items
Chapman, James T. E. 1 items
Chen, Han 1 items
Clement, Douglas 1 items
Clouse, James A. 1 items
Crews, Joseph M. 1 items
Davies, Phil 1 items
Dudley, William 1 items
Edwards, Cheryl L. 1 items
Evans, Charles L. 1 items
Farley, Dennis 1 items
Gagnon, Joseph E. 1 items
Glick, Reuven 1 items
Hamdani, Kausar 1 items
Hamilton, James D. 1 items
Henderson, Dale W. 1 items
Hetzel, Robert L. 1 items
Hrung, Warren B. 1 items
Hung, Juann H. 1 items
Jordà, Òscar 1 items
Judson, Ruth 1 items
Keane, Frank M. 1 items
Klee, Elizabeth C. 1 items
Kopcke, Richard W. 1 items
Krummack, Janice 1 items
Leduc, Sylvain 1 items
Lee, William 1 items
Marchesiani, Alessandro 1 items
Marshall, David A. 1 items
Meyer, Stephen A. 1 items
Mithal, Radhika 1 items
Moore, Jeffrey 1 items
Nam, Sunwoo 1 items
Partlan, John C. 1 items
Raskin, Matthew 1 items
Reinhart, Vincent 1 items
Remache, Julie 1 items
Riefler, Winfield W. 1 items
Roberts, William 1 items
Robinson, Kenneth J. 1 items
Rosa, Carlo 1 items
Roth, Howard L. 1 items
Rudebusch, Glenn D. 1 items
Seligman, Jason S. 1 items
Senyuz, Zeynep 1 items
Short, Eugenie D. 1 items
Small, David H. 1 items
Smith, Bruce 1 items
Suh, Myeongguk 1 items
Tarhan, Vefa 1 items
Taylor, John B. 1 items
Tepper, Alexander 1 items
Tinsley, Peter A. 1 items
Waller, Christopher J. 1 items
Wallich, Henry C. 1 items
Walsh, Carl E. 1 items
Wenninger, John 1 items
Wu, Tao 1 items
Zobel, Patricia 1 items
show more (98)
show less
FILTER BY Jel Classification
FILTER BY Keywords
Open market operations 97 items
Monetary policy 46 items
Federal Open Market Committee 29 items
Monetary policy - United States 17 items
Government securities 12 items
Treasury bonds 12 items
Interest rates 11 items
Federal funds market (United States) 10 items
Federal funds rate 10 items
Liquidity (Economics) 10 items
open market operations 10 items
Mortgage-backed securities 9 items
Banks and banking, Central 8 items
Federal Reserve System 8 items
Assets (Accounting) 6 items
Bank reserves 6 items
Federal Reserve Bank of New York 6 items
Portfolio management 5 items
Financial crises 4 items
Financial markets 4 items
Inflation (Finance) 4 items
Risk 4 items
Auctions 3 items
Bank liquidity 3 items
Credit 3 items
Discount window 3 items
monetary policy 3 items
Banking law 2 items
COVID-19 2 items
Federal Open Market Committee (FOMC) 2 items
Federal Reserve Act 2 items
Foreign exchange 2 items
Intermediation (Finance) 2 items
Investments 2 items
Keynesian economics 2 items
Monetary policy implementation 2 items
Money market 2 items
Rational expectations (Economic theory) 2 items
Repurchase agreements 2 items
Treasury 2 items
Vector autoregression 2 items
administered rates 2 items
debt management 2 items
federal funds rates 2 items
interest on reserve balances 2 items
liquidity 2 items
mortgage-backed securities (MBS) 2 items
pandemic 2 items
purchases 2 items
Ample-reserves regime 1 items
Asset-backed financing 1 items
Bank capital 1 items
Bernanke, Ben S. 1 items
Clearinghouses (Banking) 1 items
Commercial paper 1 items
Corporate governance 1 items
Debt 1 items
Debts, External 1 items
Derivative securities 1 items
Disclosure of information 1 items
Economic forecasting 1 items
Economic history 1 items
Economic indicators 1 items
Economists 1 items
Emerging markets 1 items
Equity 1 items
FOMC 1 items
Federal Deposit Insurance Corporation 1 items
Federal Reserve 1 items
Federal Reserve District, 2nd 1 items
Federal Reserve System - History 1 items
Federal Reserve banks 1 items
Federal Reserve banks - Auditing 1 items
Federal Reserve monetary policy 1 items
Federal funds 1 items
Financial Regulatory Reform (Dodd-Frank Act) 1 items
Financial market regulatory reform 1 items
Financial risk management 1 items
Financial stability 1 items
Flow of funds 1 items
Forecasting 1 items
Friedman, Milton 1 items
Futures 1 items
Greenspan, Alan 1 items
Housing - Prices 1 items
Interbank market 1 items
Interest on reserves 1 items
Inventories 1 items
Markov processes 1 items
Money policy 1 items
Money supply 1 items
Mutual funds 1 items
Nonbank financial institutions 1 items
Open Market Operations 1 items
Open Market Trading Desk (the Desk) 1 items
Petroleum products - Prices 1 items
Prices 1 items
Rate of return 1 items
Recessions 1 items
Reserve balances 1 items
Securities and Exchange Commission 1 items
Stock - Prices 1 items
Swaps (Finance) 1 items
System Open Market Account (SOMA) 1 items
Term Asset-Backed Securities Loan Facility (TALF) 1 items
Treasury bills 1 items
Treasury markets 1 items
U.S. Treasury securities 1 items
ample reserves regime 1 items
arbitrage 1 items
asset 1 items
auctions 1 items
balance sheet policy 1 items
balance sheets 1 items
bond markets 1 items
commitment 1 items
discount window 1 items
dual mandate 1 items
equilibrium multiplicity 1 items
financial capital 1 items
flexibility 1 items
fomc 1 items
forward guidance 1 items
functioning 1 items
interest on reserve balances rate 1 items
iorb 1 items
lenders of last resort 1 items
liability 1 items
markets 1 items
monetary transmission 1 items
money markets 1 items
money multiplier 1 items
overnight reverse repurchase agreement facility 1 items
policy rate 1 items
primary dealers 1 items
regulation 1 items
reservation rate 1 items
reserve balances 1 items
reserve requirements 1 items
reserves 1 items
securities 1 items
spreads 1 items
standing facilities 1 items
time series analysis 1 items
yield curve management 1 items
show more (140)
show less