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Keywords:open market operations OR Open market operations OR Open Market Operations 

Working Paper
Channel systems: Why is there a positive spread?

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

Annual Report Domestic Open Market Operations

Journal Article
A review of Federal Reserve policy targets and operating guides in recent decades

Quarterly Review , Volume 13 , Issue Aut , Pages 6-17

Speech
Fixing wholesale funding to build a more stable financial system

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

Remarks at SIFMA Webinar.
Speech

Discussion Paper
The Treasury Market Practices Group: A Consequential First Decade

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

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

Federal Reserve Bulletin , Issue Nov , Pages 1260-1274

Report
Domestic open market operations during 1996

Annual Report Domestic Open Market Operations

Journal Article
Open market operations during 1997

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

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Fisher, Peter R. 9 items

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E52 5 items

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Open market operations 97 items

Monetary policy 46 items

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