Monetary policy pass-through after the LCR

Alyssa Anderson and Manjola Tase

Economics Letters, 2024, vol. 234, issue C

Abstract: After the implementation of the Liquidity Coverage Ratio (LCR), trading in the federal funds market, which generally has a relatively favorable LCR treatment, became more driven by market liquidity. As a result, we document that pass-through of the federal funds rate to other short-term interest rates strengthened.

Keywords: Federal funds; Short-term funding markets; Monetary policy transmission; Liquidity Coverage Ratio (search for similar items in EconPapers)
JEL-codes: E49 E52 G21 G28 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:234:y:2024:i:c:s0165176523005098

DOI: 10.1016/j.econlet.2023.111483

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