Economists often talk about nominal interest rates having a “zero lower bound,” meaning they should not be expected to fall below zero.
November 16, 2011
November 14, 2011
The Evolution of Federal Debt Ceilings
It’s hardly news that Congress sets a statutory limit on aggregate Treasury indebtedness.
November 9, 2011
The Debt Ceiling as a “Fiscal Rule”
A few months ago, the federal government was once again confronted with the need to raise the statutory limit on the amount of debt issued by the Treasury.
November 8, 2011
Just Released: Conference on Global Systemic Risk Explores Four Key Questions
The 2007-09 financial crisis spread to markets and institutions around the world, demonstrating why global systemic risk is a major concern in modern financial markets.
November 7, 2011
Remaining Risks in the Tri‑Party Repo Market
The tri-party repo market is one in which large U.S. securities firms and bank securities affiliates (dealers) finance much of their fixed-income securities inventories.
October 24, 2011
Using Crisis Losses to Calibrate a Regulatory Capital Buffer
In response to the enormous losses experienced during the recent financial crisis, the Basel Committee on Banking Supervision reached a new international agreement on the amount of capital banks will be required to hold.
October 21, 2011
Historical Echoes: Picturing a Century of Public Debt Burdens
Public debt has a long history, both here and abroad.
Posted at 10:00 am in Historical Echoes | Permalink
October 20, 2011
Just Released: Fed Proposes Simpler Rules for Banks’ Reserve Requirements
Reserve requirements—a critical tool available to Federal Reserve policymakers for the implementation of monetary policy—stipulate the amount of funds that banks and other depository institutions must hold in reserve against specified deposits, essentially checking accounts.
October 19, 2011
Sizing Up the Fed’s Maturity Extension Program
The Federal Open Market Committee (FOMC) recently announced its intention to extend the average maturity of its holdings of securities by purchasing $400 billion of Treasury securities with remaining maturities of six years to thirty years and selling an equal amount of Treasury securities with remaining maturities of three years or less.
October 18, 2011
Just Released: Money and Payments Workshop Examines Repo Market Reform
We have just posted the proceedings of a workshop held on October 7, 2011, which gathered the very latest thinking by academics, central bankers, and practitioners on how the repo market should be reformed to help avoid a recurrence of the recent financial crisis.
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