Who’s Borrowing in the Fed Funds Market?

Gara Afonso, Alex Entz and Eric LeSueur

No 20131209, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: The federal funds market plays an important role in the implementation of monetary policy. In our previous post, we examine the lending side of the fed funds market and the decline in total fed funds volume since the onset of the financial crisis. In today’s post, we discuss the borrowing side of this market and the interesting role played by foreign banks.

Keywords: Federal funds; borrowing; foreign institutions (search for similar items in EconPapers)
JEL-codes: E5 G1 G2 (search for similar items in EconPapers)
Date: 2013-12-09
New Economics Papers: this item is included in nep-mac and nep-mon
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