What Are the Fed’s Dollar Swap Lines and FIMA Repos, and Why Do They Matter?
Werner, Devin; Hong, Sungki (2020-10-08)
Making it easier for central banks to access U.S. dollars helps calm exchange rate volatility and allow markets and credit lines to operate smoothly.
On the Economy

Journal Article
Case studies on disruptions during the crisis
Yorulmazer, Tanju (2014-02)
The 2007-09 financial crisis saw many funding mechanisms challenged by a drastic reduction in market liquidity, a sharp increase in the cost of transactions, and, in some cases, a drying-up in financing. This article presents case studies of several key financial markets and intermediaries under significant distress at this time. For each case, the author discusses the size and evolution of the funding mechanism, the sources of the disruptions, and the policy responses aimed at mitigating distress and making markets more liquid. The review serves as a reference on the vulnerabilities of ...
Economic Policy Review , Issue Feb , Pages 17-28

Did the Fed’s Dollar Swap Lines Work?
Werner, Devin; Hong, Sungki (2020-11-24)
In March, the Federal Reserve took steps to increase the supply of dollars to foreign markets to ensure liquidity and lessen volatility. Did the policies work?
On the Economy