What Is the Composition of Central Bank Balance Sheets in Normal Times?

Emily Eisner, Antoine Martin and Ylva Søvik

No 20160203, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: There has been unusually high activity on central banks? balance sheets in recent years. This activity, which has expanded beyond the core operations and collateral of the central bank, has been called ?unconventional,? ?nonstandard,? ?nontraditional,? and ?active.? But what constitutes a normal central bank balance sheet? How does central bank asset and liability composition vary across countries and how did the crisis change this composition? In this post, we focus on the main characteristics of central bank balance sheets before the crisis. In our next piece, we describe how this composition has changed in response to the crisis.

Keywords: Central; bank; balance; sheet (search for similar items in EconPapers)
JEL-codes: E5 (search for similar items in EconPapers)
Date: 2016-02-03
New Economics Papers: this item is included in nep-acc, nep-mac and nep-mon
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