The evolution of Treasury cash management during the financial crisis

Paul J. Santoro

Current Issues in Economics and Finance, 2012, vol. 18, issue Apr

Abstract: The U.S. Treasury and the Federal Reserve System have long enjoyed a close relationship, each helping the other to carry out certain statutory responsibilities. This relationship proved beneficial during the 2008-09 financial crisis, when the Treasury altered its cash management practices to facilitate the Fed?s dramatic expansion of credit to banks, primary dealers, and foreign central banks.

Keywords: Federal Reserve System; Financial crises; Taxation; Federal government; Credit (search for similar items in EconPapers)
Date: 2012
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