Search Results
Showing results 1 to 10 of approximately 130.
(refine search)
Working Paper
The FOMC's Committee on the Directive: Behind Volcker's New Operating Procedures
Burk, Nicholas A.; Small, David H.
(2022-09-30)
On October 6, 1979, Chairman Volcker announced that the Federal Reserve was embarking on a new, forceful, and ultimately successful campaign to lower the rampant inflation of that time. At the center of this campaign were new operating procedures for conducting monetary policy—procedures that focused daily open market operations on controlling the quantity of monetary reserves and the quantity of nonborrowed reserves in particular. This was a dramatic shift from the prior focus on targeting the federal funds rate. These new operating procedures were preceded by well over a decade of work ...
Finance and Economics Discussion Series
, Paper 2022-063
Briefing
Editor's Introduction to the Federal Reserve Bank of Kansas City's Technical Briefings
Cannon, Sandra A.
(2018-03-28)
Technical Briefings
, Paper TB 18-01
Journal Article
The Term Asset-Backed Securities Loan Facility
Caviness, Elizabeth; Sarkar, Asani; Goyal, Ankur; Park, Woojung
(2022-07-01)
The COVID-19 pandemic disrupted the asset-backed securities (ABS) market, resulting in higher spreads on ABS and briefly halting the issuance of some ABS. On March 23, 2020, the Federal Reserve established the Term Asset-Backed Securities Loan Facility (TALF) to support the flow of credit to consumers and businesses by re-enabling the issuance of ABS. In this article, the authors describe how TALF works, how much it was used, and its effect on the issuance and spreads of TALF-eligible securities relative to those of TALF-ineligible securities. They find that both the introduction of TALF and ...
Economic Policy Review
, Volume 28
, Issue 1
Speech
A Brief History of the Fed Universe
Harker, Patrick T.
(2019-04-17)
In remarks to the Greater Vineland Chamber of Commerce in New Jersey, Philadelphia Fed President Patrick T. Harker kept his outlook in line with that of recent weeks. ?I continue to be in wait-and-see mode, and my outlook for rates remains, at most, one hike for 2019 and one for 2020,? he said.
Speech
, Paper 164
Report
How Did the MSLP Borrowers Fare Before and During COVID-19?
Wang, J. Christina; Ballance, Joshua; Qing, Melanie
(2021-09-08)
This policy brief uses Dun & Bradstreet (D&B) data to assess whether the Main Street Lending Program (MSLP) borrowers were in worse financial health than their peers before COVID-19 hit the economy hard in March 2020 or suffered worse deterioration afterward. The findings can help us better understand why these firms sought to obtain MSLP loans. We find that MSLP borrowers tend to be larger than their peer firms (that is, firms in the same industry and state). Within the same size group, MSLP borrowers are on average younger than their peers. Borrowers tended to have a slightly higher ...
Current Policy Perspectives
Discussion Paper
Treasury Market Liquidity and the Federal Reserve during the COVID-19 Pandemic
Fleming, Michael J.
(2020-05-29)
Many of the actions taken by the Federal Reserve during the COVID-19 pandemic are intended to address a deterioration of market functioning. The Federal Open Market Committee (FOMC) announced purchases of Treasury securities and agency mortgage-backed securities (MBS), in particular, “to support the smooth functioning of markets” in those securities. Last month, we showed in this post how one metric of functioning for the Treasury market, market illiquidity, jumped to unusually high levels in March amid massive uncertainty about the economic effects of the pandemic. In this post, we ...
Liberty Street Economics
, Paper 20200529a
A Look at the Fed’s Emergency Lending Programs
Neely, Christopher J.
(2020-12-22)
The Federal Reserve launched an alphabet soup of programs in response to the COVID-19 pandemic.
On the Economy
Discussion Paper
Securing Secured Finance: The Term Asset-Backed Securities Loan Facility
Sarkar, Asani; Caviness, Elizabeth
(2020-08-07)
The asset-backed securities (ABS) market, by supporting loans to households and businesses such as credit card and student loans, is essential to the flow of credit in the economy. The COVID-19 pandemic disrupted this market, resulting in higher interest rate spreads on ABS and halting the issuance of most ABS asset classes. On March 23, 2020, the Fed established the Term Asset-Backed Securities Loan Facility (TALF) to facilitate the issuance of ABS backed by a variety of loan types including student loans, credit card loans, and loans guaranteed by the Small Business Administration (SBA), ...
Liberty Street Economics
, Paper 20200807
Speech
A Solution to Every Puzzle
Williams, John C.
(2020-09-29)
Remarks at the 2020 U.S. Treasury Market Conference (delivered via videoconference).
Speech
Briefing
From Then to FedNow: Payments Innovation and the Federal Reserve
George, Esther L.
(2020-12-18)
Since its founding, the Federal Reserve System has evolved its payments services to be responsive to changes in the industry and to meet the needs of its customers and the public generally. To be sure, episodes of tragedy and crisis can amplify the gaps in legacy systems and approaches, and the COVID-19 pandemic is no exception as it highlights shifting consumer payments preferences.
Policy Perspectives
, Issue December 18, 2020
, Pages 3
FILTER BY year
FILTER BY Bank
Federal Reserve Bank of New York 44 items
Board of Governors of the Federal Reserve System (U.S.) 31 items
Federal Reserve Bank of St. Louis 13 items
Federal Reserve Bank of Kansas City 8 items
Federal Reserve Bank of Richmond 8 items
Federal Reserve Bank of Cleveland 5 items
Federal Reserve Bank of San Francisco 5 items
Federal Reserve Bank of Atlanta 4 items
Federal Reserve Bank of Chicago 4 items
Federal Reserve Bank of Philadelphia 4 items
Federal Reserve Bank of Boston 2 items
Federal Reserve Bank of Dallas 2 items
show more (7)
show less
FILTER BY Series
Finance and Economics Discussion Series 30 items
Liberty Street Economics 19 items
Speech 15 items
Working Papers 10 items
Economic Policy Review 8 items
On the Economy 6 items
Staff Reports 5 items
Economic Bulletin 4 items
Working Papers (Old Series) 4 items
Econ Focus 3 items
Policy Hub 3 items
Working Paper 3 items
Working Paper Series 3 items
Economic Insights 2 items
Economic Perspectives 2 items
Technical Briefings 2 items
Cascade 1 items
Chicago Fed Letter 1 items
Current Policy Perspectives 1 items
Economic Quarterly 1 items
Economic Review 1 items
FRBSF Economic Letter 1 items
International Finance Discussion Papers 1 items
Policy Hub* 1 items
Policy Perspectives 1 items
Richmond Fed Economic Brief 1 items
Speeches and Essays 1 items
show more (22)
show less
FILTER BY Content Type
Working Paper 51 items
Journal Article 25 items
Discussion Paper 21 items
Speech 16 items
Report 6 items
Briefing 4 items
Newsletter 1 items
show more (2)
show less
FILTER BY Author
Carlson, Mark A. 11 items
Burk, Nicholas A. 10 items
Small, David H. 10 items
Martin, Antoine 9 items
Logan, Lorie 8 items
Zarutskie, Rebecca 8 items
Fleming, Michael J. 6 items
Neely, Christopher J. 6 items
Humpage, Owen F. 5 items
Sarkar, Asani 5 items
Cipriani, Marco 4 items
Ennis, Huberto M. 4 items
Kovner, Anna 4 items
Williams, John C. 4 items
Bordo, Michael D. 3 items
Boyarchenko, Nina 3 items
Clouse, James A. 3 items
Crump, Richard K. 3 items
Daly, Mary C. 3 items
Ihrig, Jane E. 3 items
Leonard, Deborah 3 items
McAndrews, James J. 3 items
Schulhofer-Wohl, Sam 3 items
Schurmeier, Jake 3 items
Wall, Larry D. 3 items
Wheelock, David C. 3 items
Bauer, Michael D. 2 items
Bokun, Kathryn 2 items
Caviness, Elizabeth 2 items
Chabot, Benjamin 2 items
Fessenden, Helen 2 items
Gulati, Chaitri 2 items
Kandrac, John 2 items
Keane, Frank M. 2 items
Klee, Elizabeth C. 2 items
Kliesen, Kevin L. 2 items
La Spada, Gabriele 2 items
Liu, Haoyang 2 items
Marsh, W. Blake 2 items
Morgan, Donald P. 2 items
Mukherjee, Sanchita 2 items
Narron, James 2 items
Palida, Ali 2 items
Podjasek, Rich 2 items
Riordan, Will 2 items
Sengupta, Rajdeep 2 items
Shachar, Or 2 items
Skeie, David R. 2 items
Abrahams, Michael 1 items
Ackon, Felix P. 1 items
Afonso, Gara 1 items
Anadu, Kenechukwu E. 1 items
Anbil, Sriya 1 items
Anderson, Alyssa G. 1 items
Ballance, Joshua 1 items
Bi, Huixin 1 items
Borek, Nathaniel 1 items
Bowman, David 1 items
Cannon, Sandra A. 1 items
Chang, Andrew C. 1 items
Choi, Mark 1 items
Consolvo, Victoria 1 items
Copeland, Adam 1 items
Cox, Caren 1 items
Craver, Ryan M. 1 items
D'Amico, Stefania 1 items
Danzig, Andrew 1 items
Dice, Jacob 1 items
Diercks, Anthony M. 1 items
Doh, Taeyoung 1 items
Drautzburg, Thorsten 1 items
Duca, John V. 1 items
Foerster, Andrew 1 items
Garbade, Kenneth D. 1 items
George, Esther L. 1 items
Goldberg, Linda S. 1 items
Goyal, Ankur 1 items
Haasl , Thomas 1 items
Haltom, Renee Courtois 1 items
Harker, Patrick T. 1 items
Haughwout, Andrew F. 1 items
Held, Michael 1 items
Herman, Gabe 1 items
Hetzel, Robert L. 1 items
Huang, Catherine 1 items
Huther, Jeff W. 1 items
Hyman, Benjamin 1 items
Kraft, Kailey 1 items
Lakdawala, Aeimit K. 1 items
Lee, Helene 1 items
Lerman, Robert 1 items
Lester, Benjamin 1 items
Levinson, Trace J. 1 items
Londono, Juan M. 1 items
Lubik, Thomas A. 1 items
Maher, Dina 1 items
Martin, Fernando M. 1 items
Matthes, Christian 1 items
McGowan, John 1 items
McLaughlin, Susan 1 items
McMorrow, Michael 1 items
Meade, Ellen E. 1 items
Minoiu, Camelia 1 items
Mueller, Philippe 1 items
Nelson, Edward 1 items
Nosal, Ed 1 items
Park, Woojung 1 items
Paulson, Anna L. 1 items
Prastakos, Peter 1 items
Price, David A. 1 items
Qing, Melanie 1 items
Ravazzolo, Francesco 1 items
Roberds, William 1 items
Sapriza, Horacio 1 items
Schlusche, Bernd 1 items
Schwartz, Anna J. 1 items
Smith, Andrew Lee 1 items
Song, Zhaogang 1 items
Steiner, Patrick 1 items
Styczynski, Mary-Frances 1 items
Swanson, Eric T. 1 items
Tang, Jenny 1 items
Tousey, Colton 1 items
Van Tassel, Peter 1 items
Volker, Desi 1 items
Waller, William 1 items
Wang, J. Christina 1 items
Wang, Zhenyu 1 items
Weinbach, Gretchen C. 1 items
Weiss, Emma 1 items
White, Carl 1 items
White, Eugene 1 items
Wolgemuth, Jennifer 1 items
Wolla, Scott A. 1 items
Zhu, Haoxiang 1 items
Zlate, Andrei 1 items
anonymous 1 items
http://fedora:8080/fcrepo/rest/objects/authors/ 1 items
show more (133)
show less
FILTER BY Jel Classification
E58 40 items
E52 36 items
G21 19 items
E5 17 items
E43 13 items
G12 10 items
G18 8 items
G28 8 items
E60 7 items
G23 7 items
E47 6 items
G1 6 items
G2 6 items
C30 5 items
F33 5 items
G01 4 items
N12 4 items
N22 4 items
E4 3 items
E44 3 items
E63 3 items
F3 3 items
F36 3 items
G19 3 items
G32 3 items
H12 3 items
H6 3 items
N1 3 items
E42 2 items
E51 2 items
G0 2 items
G10 2 items
G11 2 items
N2 2 items
A22 1 items
C11 1 items
C32 1 items
C53 1 items
C82 1 items
D22 1 items
D79 1 items
E0 1 items
E02 1 items
E27 1 items
E37 1 items
E6 1 items
E65 1 items
F31 1 items
F34 1 items
F42 1 items
G13 1 items
G14 1 items
G15 1 items
G1;G2 1 items
G51 1 items
H62 1 items
H63 1 items
H74 1 items
H81 1 items
I18 1 items
N21 1 items
O23 1 items
R38 1 items
show more (58)
show less
FILTER BY Keywords
Federal Reserve 130 items
monetary policy 31 items
COVID-19 23 items
pandemic 16 items
Great inflation 11 items
Volcker 10 items
Discount window 10 items
liquidity 10 items
Monetary policy tools 9 items
Federal Reserve lending facilities 8 items
Treasury 8 items
Funding for lending 7 items
quantitative easing 7 items
VAR 6 items
banks 6 items
inflation 6 items
interest rates 6 items
reserves 6 items
Federal Open Market Committee (FOMC) 5 items
Treasury securities 5 items
forecasting 5 items
good deal 5 items
large-scale asset purchases 5 items
money markets 5 items
structural breaks 5 items
FOMC 5 items
coronavirus 4 items
employment 4 items
facilities 4 items
Banking 3 items
FDIC 3 items
bailout 3 items
balance sheets 3 items
central banking 3 items
economy 3 items
finance 3 items
financial history 3 items
financial stability 3 items
lenders of last resort 3 items
markets 3 items
Lender of last resort 3 items
credit 3 items
Bretton Woods 2 items
CARES Act 2 items
CPFF 2 items
Central Bank 2 items
Even Keel 2 items
Fed-Treasury Accord 2 items
Main Street Lending Program 2 items
PPP 2 items
PPPLF 2 items
Term Asset-Backed Securities Loan Facility (TALF) 2 items
Treasury General Account (TGA) 2 items
Treasury markets 2 items
U.S. Treasury 2 items
US Treasury 2 items
agency mortgage-backed securities 2 items
asset purchases 2 items
banking crises 2 items
banking panics 2 items
businesses 2 items
commercial paper market 2 items
covid19 2 items
crisis 2 items
economic conditions 2 items
emergency lending 2 items
facility 2 items
financial conditions 2 items
households 2 items
inflation targeting 2 items
market 2 items
monetary policy implementation 2 items
money market funds 2 items
money market funds (MMFs) 2 items
overnight reverse repo (ON RRP) 2 items
rates 2 items
reserve requirements 2 items
securities 2 items
unemployment 2 items
Community development 2 items
Fed Funds 2 items
Fiscal policy 2 items
LIBOR 2 items
Payments 2 items
Repo 2 items
Shadow Banks 2 items
Taylor Rule 2 items
13(3) 1 items
ABS 1 items
ABS market 1 items
Accounting 1 items
Arc GIS 1 items
Arc Map 1 items
Auction 1 items
Balance Sheet 1 items
Bank lending 1 items
Bayesian Estimation 1 items
Blue Chip 1 items
COVID crisis 1 items
COVID-19 pandemic 1 items
Central Bank Swap Lines 1 items
Central bank lending 1 items
Commercial Paper Funding Facility 1 items
Commercial Paper Funding Facility (CPFF) 1 items
Community development outlook survey 1 items
Currency 1 items
DSGE 1 items
DTCC 1 items
Delphic forward guidance 1 items
Dodd-Frank Act 1 items
Dun & Bradstreet firm-level data 1 items
EFFR 1 items
Economic education 1 items
Economics 1 items
Emergency lending facilities 1 items
FBO 1 items
FHLB 1 items
FIMA Repo Facility 1 items
FRB/US 1 items
Fed facility 1 items
FedNow 1 items
Federal Funds rate 1 items
Federal Home Loan Banks 1 items
Federal Home Loan Banks (FHLBs) 1 items
Federal Open Market Committee 1 items
Federal Reserve Board and Federal Reserve System 1 items
Federal funds market 1 items
Financial stress 1 items
Forecast efficiency 1 items
Forward guidance 1 items
Great Depression 1 items
Great Moderation 1 items
High frequency forecasts 1 items
Information Rigidities 1 items
Interest-rate forecasts 1 items
Interest-rate lower bound 1 items
Intervention 1 items
Introductory economics 1 items
LMI 1 items
LSAP 1 items
Least Squares Learning 1 items
Liquidity Facilities 1 items
MBS 1 items
Macroeconomics 1 items
Mexico 1 items
Monetary policy strategy 1 items
Money Market Liquidity Facility (MMLF) 1 items
Money Market Mutual Fund Liquidity Facility 1 items
Money Market Mutual Fund Liquidity Facility (MMLF) 1 items
Money market mutual funds 1 items
Municipal Liquidity Facility 1 items
Municipal Liquidity Facility (MLF) 1 items
Municipal bond market 1 items
Municipal bond yields 1 items
New York (State) 1 items
News Decomposition 1 items
Open Market Trading Desk (the Desk) 1 items
PMCCF 1 items
Pass-through 1 items
Paycheck Protection Program Liquidity Facility 1 items
Policy 1 items
Portfolio composition 1 items
Preregistration plan 1 items
Primary Dealer Credit Facility (PDCF) 1 items
QE 1 items
Real-time data 1 items
SBA 1 items
SMCCF 1 items
SOMA portfolio 1 items
Secondary Market Corporate Credit Facility (SMCCF) 1 items
Securities Lending 1 items
Settlement fail 1 items
Shapefiles 1 items
Stock Market 1 items
Swap lines 1 items
TALF 1 items
Term Asset-Backed Securities Loan Facility 1 items
Term Auction Facility 1 items
The Desk 1 items
Treasury debt issuance 1 items
Treasury security 1 items
Unconventional monetary policy 1 items
abundant excess reserves 1 items
asset backed securities 1 items
asset prices 1 items
balance sheet costs 1 items
balance sheet runoff 1 items
balances 1 items
bank deposits 1 items
bank reserves 1 items
bills only 1 items
bonds 1 items
borrowing 1 items
central bank communications 1 items
central banks 1 items
climate change 1 items
climate-related financial risk 1 items
computer modeling 1 items
contagion 1 items
corporate bond facility 1 items
corporate bond markets 1 items
corporate bonds 1 items
corporate credit facilities 1 items
correspondent banks 1 items
counterparties 1 items
credit easing 1 items
dealers 1 items
debt management 1 items
debts 1 items
deficit 1 items
direct purchases 1 items
dollar 1 items
dual mandate 1 items
economic outlook 1 items
effective fed funds rate 1 items
emerging markets 1 items
even-keel 1 items
event study 1 items
expectations 1 items
fed balance sheet 1 items
fed funds market 1 items
federal agencies 1 items
federal funds 1 items
federal funds rates 1 items
financial crises 1 items
financial institutions 1 items
financial markets 1 items
forecasts 1 items
foreign banking organizations 1 items
foreign banking organizations (FBOs) 1 items
framework 1 items
funding markets 1 items
governors 1 items
implied volatility 1 items
interbank markets 1 items
interest on reserve balances (IORB) rate 1 items
interest paid on excess reserves (IOER) 1 items
intermediation 1 items
jekyll island 1 items
jumps 1 items
large-scale asset purchase programs 1 items
lending 1 items
liftoff 1 items
market functioning 1 items
monetary policy framework 1 items
monetary policy normalization 1 items
monetary policy uncertainty 1 items
monetary transmission 1 items
money market rates 1 items
mortgage 1 items
mortgage-backed securities 1 items
mortgage-backed securities (MBS) 1 items
municipal debt 1 items
nonbank financial institutions (NBFIs) 1 items
nontraditional financial firms 1 items
open market operations 1 items
overnight 1 items
overnight reverse repo (ON RRP) facility 1 items
overnight reverse repurchases 1 items
panic 1 items
panic of 1907 1 items
participants 1 items
payment systems 1 items
physical risk 1 items
preanalysis plan 1 items
prepayment rates 1 items
price stability 1 items
primary dealer credit facility 1 items
programs 1 items
public debt 1 items
public service 1 items
purchases 1 items
quantitative easing (QE) 1 items
r-star 1 items
railway mania 1 items
recession 1 items
recovery 1 items
reserve 1 items
reserve balances 1 items
runs 1 items
securitization 1 items
small business 1 items
specialness 1 items
spending 1 items
state and local governments 1 items
stigma 1 items
supervision 1 items
survey 1 items
swap line 1 items
taxes 1 items
term funding 1 items
trading desk 1 items
transition risk 1 items
treasuries 1 items
treasury bonds 1 items
show more (308)
show less