Interest on Excess Reserves and U.S. Commercial Bank Lending

Marcelo Rezende, Judit Temesvary and Rebecca Zarutskie
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Marcelo Rezende: https://www.federalreserve.gov/econres/marcelo-rezende.htm

No 2019-10-18, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: In this note, we empirically assess whether changes in the interest on excess reserves (IOER) rate and changes in the spread between the IOER rate and the effective federal funds rate (EFFR) have affected banks’ reserve holdings and lending, controlling for changes in the stance of monetary policy and other macroeconomic conditions.

Date: 2019-10-18
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2019-10-18

DOI: 10.17016/2380-7172.2453

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