Share
Overnight RRP Operations as a Monetary Policy Tool: Some Design Considerations (in English)
Federal Reserve Board (Author)
·
Createspace Independent Publishing Platform
· Paperback
Overnight RRP Operations as a Monetary Policy Tool: Some Design Considerations (in English) - Federal Reserve Board
$ 10.36
$ 12.95
You save: $ 2.59
Choose the list to add your product or create one New List
✓ Product added successfully to the Wishlist.
Go to My WishlistsIt will be shipped from our warehouse between
Wednesday, July 03 and
Thursday, July 04.
You will receive it anywhere in United States between 1 and 3 business days after shipment.
Synopsis "Overnight RRP Operations as a Monetary Policy Tool: Some Design Considerations (in English)"
We review recent changes in monetary policy that have led to development and testing of an overnight reverse repurchase agreement (ON RRP) facility, an innovative tool for implementing monetary policy during the normalization process. Making ON RRPs available to a broad set of investors, including nonbank institutions that are significant lenders in money markets, could complement the use of the interest on excess reserves (IOER) and help control short-term interest rates. We examine some potentially important secondary effects of an ON RRP facility, both positive and negative, including impacts on the structure of short-term funding markets and financial stability. We also investigate design features of an ON RRP facility that could mitigate secondary effects deemed undesirable. Finally, we discuss tradeoffs that policymakers may face in designing an ON RRP facility, as they seek to balance the objectives of setting an effective floor on money market rates during the normalization process and limiting any adverse secondary effects.
- 0% (0)
- 0% (0)
- 0% (0)
- 0% (0)
- 0% (0)
All books in our catalog are Original.
The book is written in English.
The binding of this edition is Paperback.
✓ Producto agregado correctamente al carro, Ir a Pagar.