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2 posts on "money market"
May 8, 2020

The Money Market Mutual Fund Liquidity Facility

Marco Cipriani, Gabriele La Spada, Reed Orchinik, and Aaron Plesset

To prevent outflows from prime and muni funds from turning into an industry-wide run after the COVID-19 outbreak, the Federal Reserve established Money Market Mutual Fund Liquidity Facility. This post looks at the Fed’s intervention, its goals, and the direct and indirect market effects.

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Posted at 7:00 am in Central Bank, COVID-19 Facilities, Credit, Federal Reserve, Financial Institutions, Financial Intermediation, Financial Markets, Liquidity, Monetary Policy, Pandemic | Permalink
October 11, 2011

Did the Fed’s Term Auction Facility Work?

We argue that the Fed’s Term Auction Facility (TAF), introduced in December 2007, lowered the cost of borrowing of banks in the market during the recent financial crisis.

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Posted at 10:00 am in Crisis, Fed Funds, Financial Institutions, Financial Markets | Permalink

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Liberty Street Economics features insight and analysis from New York Fed economists working at the intersection of research and policy. Launched in 2011, the blog takes its name from the Bank’s headquarters at 33 Liberty Street in Manhattan’s Financial District.

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