Search Results

Showing results 1 to 1 of approximately 1.

(refine search)
SORT BY: PREVIOUS / NEXT
Keywords:Overnight money markets 

Working Paper
Effects of Changing Monetary and Regulatory Policy on Overnight Money Markets

Money markets have been operating under a new monetary policy implementation framework since the Federal Reserve started paying interest on bank reserves in late 2008. The regulatory environment has also evolved substantially over this period. We develop and test hypotheses regarding the effects of changes in the monetary and regulatory policy on dynamics of key overnight funding markets. We find that the federal funds rate continued to provide an anchor, albeit weaker, for unsecured funding rates amid substantial decline in activity and changing composition of trades, while its transmission ...
Finance and Economics Discussion Series , Paper 2016-084

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

C32 1 items

E43 1 items

E52 1 items

FILTER BY Keywords

Commercial paper 1 items

Eurodollar 1 items

Federal funds 1 items

GARCH models 1 items

Overnight money markets 1 items

Repo 1 items

show more (2)

PREVIOUS / NEXT