Current Issues—Concise studies of topical economic and financial issues
Economic Policy Review—The Group's flagship policy journal
Staff Reports—Technical working papers
Course: Money and Banking
See: Course selections »
2014 Readings | Mathematical Complexity |
| Financial Stability Policies for Shadow Banking Tobias Adrian Staff Reports , No. 664 , February 2014 | Low |
| The Revolving Door and Worker Flows in Banking Regulation: A First Look at the Evidence Amit Seru, Francesco Trebbi, and David Lucca Staff Reports , No. 678 , June 2014 | Low |
| Direct Purchases of U.S. Treasury Securities by Federal Reserve Banks Kenneth Garbade Staff Reports , No. 684 , August 2014 | Low |
| Low | |
| Banks' Incentives and the Quality of Internal Risk Models Matthew C. Plosser and Joao Santos Staff Reports , No. 704 , December 2014 | Low |
| Low | |
| Assessing Financial Stability: The Capital and Loss Assessment under Stress Scenarios (CLASS) Model Beverly Hirtle, Anna Kovner, James Vickery, and Meru Bhanot Staff Reports , No. 663 , February 2014 | Medium |
| Bank Holding Company Dividends and Repurchases during the Financial Crisis Beverly Hirtle Staff Reports , No. 666 , March 2014 | Medium |
| Bank Heterogeneity and Capital Allocation: Evidence from "Fracking" Shocks Matthew C. Plosser Staff Reports , No. 693 , October 2014 | Medium |
| The Sensitivity of Housing Demand to Financing Conditions: Evidence from a Survey Andreas Fuster and Basit Zafar Staff Reports , No. 702 , November 2014 | Medium |
2013 Readings | Mathematical Complexity |
| Financial Stability Monitoring Tobias Adrian, Daniel Covitz, and Nellie J Liang Staff Reports , No. 601 , February 2013 | Low |
| Money Market Funds Intermediation and Bank Instability Marco Cipriani, Antoine Martin, and Bruno Parigi Staff Reports , No. 599 , February 2013 | Low |
| How Much Do Bank Shocks Affect Investment? Evidence from Matched Bank-Firm Loan Data Mary Amiti and David C. Weinstein Staff Reports , No. 604 , March 2013 | Low |
| The Rise of the Originate-to-Distribute Model and the Role of Banks in Financial Intermediation Vitaly Bord and Joao Santos Economic Policy Review , Vol. 18 , No. 2 | Low |
| The Financial Crisis at the Kitchen Table: Trends in Household Debt and Credit Meta Brown, Andrew Haughwout, Donghoon Lee, and Wilbert van der Klaauw Current Issues , Vol. 19 , No. 2 | Low |
| The Risk of Fire Sales in the Tri-Party Repo Market Brian Begalle, Antoine Martin, James McAndrews, and Susan McLaughlin Staff Reports , No. 616 , May 2013 | Low |
| Shadow Bank Monitoring Tobias Adrian, Adam B. Ashcraft, and Nicola Cetorelli Staff Reports , No. 638 , September 2013 | Low |
| Fire-Sale Spillovers and Systemic Risk Fernando Duarte and Thomas M Eisenbach Staff Reports , No. 645 , October 2013 | Low |
| Rollover Risk as Market Discipline: A Two-Sided Inefficiency Thomas M Eisenbach Staff Reports , No. 597 , February 2013 | Medium |
| Identifying Term Interbank Loans from Fedwire Payments Data Dennis Kuo, David Skeie, James Vickery, and Thomas Youle Staff Reports , No. 603 , March 2013 | Medium |
| Medium | |
| Trading Partners in the Interbank Lending Market Gara Afonso, Anna Kovner, and Antoinette Schoar Staff Reports , No. 620 , May 2013 | Medium |
| Evaluating the Quality of Fed Funds Lending Estimates Produced from Fedwire Payments Data Anna Kovner and David Skeie Staff Reports , No. 629 , September 2013 | Medium |
| Intermediary Balance Sheets Tobias Adrian and Nina Boyarchenko Staff Reports , No. 651 , November 2013 | High |
2012 Readings | Mathematical Complexity |
| An Analysis of OTC Interest Rate Derivatives Transactions: Implications for Public Reporting Michael J. Fleming, John Jackson, Ada Li, Asani Sarkar, and Patricia Zobel Staff Reports , No. 557 , March 2012 | Low |
| Settlement Liquidity and Monetary Policy Implementation -- Lessons from the Financial Crisis Morten Bech, Antoine Martin, and James McAndrews Economic Policy Review , Vol. 18 , No. 1 | Low |
| Low | |
| The Evolution of Treasury Cash Management during the Financial Crisis Paul J Santoro Current Issues , Vol. 18 , No. 3 | Low |
| Federal Reserve Liquidity Provision during the Financial Crisis of 2007-2009 Michael J. Fleming Staff Reports , No. 563 , July 2012 | Low |
| The Minimum Balance at Risk: A Proposal to Mitigate the Systemic Risks Posed by Money Market Funds Patrick McCabe, Marco Cipriani, Michael Holscher, and Antoine Martin Staff Reports , No. 564 , July 2012 | Low |
| Evolution and Heterogeneity among Larger Bank Holding Companies: 1994 to 2010 Adam Copeland Economic Policy Review , Vol. 18 , No. 2 | Low |
| The Evolution of Banks and Financial Intermediation: Framing the Analysis Nicola Cetorelli, Lindsay L Mollineaux, and Ben H Mandel Economic Policy Review , Vol. 18 , No. 2 | Low |
| The Role of Banks in Asset Securitization Nicola Cetorelli and Stavros Peristiani Economic Policy Review , Vol. 18 , No. 2 | Low |
| A Structural View of U.S. Bank Holding Companies Dafna Avraham, Patricia Selvaggi, and James Vickery Economic Policy Review , Vol. 18 , No. 2 | Low |
| Challenges in Identifying Interbank Loans Olivier Armantier and Adam Copeland Staff Reports , No. 575 , October 2012 | Low |
| Shadow Banking: A Review of the Literature Tobias Adrian and Adam B. Ashcraft Staff Reports , No. 580 , October 2012 | Low |
| Payment Size, Negative Equity, and Mortgage Default Andreas Fuster and Paul Willen Staff Reports , No. 582 , November 2012 | High |
2011 Readings | Mathematical Complexity |
| A Note on Bank Lending in Times of Large Bank Reserves Antoine Martin, James McAndrews, and David Skeie Staff Reports , No. 497 , May 2011 | Low |
| The Federal Reserve's Commercial Paper Funding Facility Tobias Adrian, Karin Kimbrough, and Dina Marchioni Economic Policy Review , Vol. 17 , No. 1 | Low |
| Monetary Policy Implementation: Common Goals but Different Practices Marlene Amstad and Antoine Martin Current Issues , Vol. 17 , No. 7 , November 2011 | Low |
| Dodd-Frank One Year On: Implications for Shadow Banking Tobias Adrian Staff Reports , No. 533 , December 2011 | Low |
| Financial Intermediary Balance Sheet Management Tobias Adrian and Hyun Song Shin Staff Reports , No. 532 , December 2011 | Low |
| Income Effects of Federal Reserve Liquidity Facilities Michael J. Fleming and Nicholas J. Klagge Current Issues , Vol. 17 , No. 1 , January 2011 | Medium |
| A Model of Liquidity Hoarding and Term Premia in Inter-Bank Markets Viral Acharya and David Skeie Staff Reports , No. 498 , May 2011 | Medium |
| Bank Capital Regulation and Structured Finance Antoine Martin and Bruno Parigi Staff Reports , No. 492 , May 2011 | Medium |
| Real Estate Investors, the Leverage Cycle, and the Housing Market Crisis Andrew Haughwout, Donghoon Lee, Joseph Tracy, and Wilbert van der Klaauw Staff Reports , No. 514 , September 2011 | Medium |
| High | |
| Expectations versus fundamentals: Does the Cause of Banking Panics Matter for Prudential Policy? Todd Keister and Vijay Narasiman Staff Reports , No. 519 , October 2011 | High |
2010 Readings | Mathematical Complexity |
| Monetary Cycles, Financial Cycles, and the Business Cycle Tobias Adrian, Arturo Estrella, and Hyun Song Shin Staff Reports , No. 421 , January 2010 | Low |
| The Changing Nature of Financial Intermediation and the Financial Crisis of 2007 - 2009 Tobias Adrian and Hyun Song Shin Staff Reports , No. 439 , March 2010 | Low |
| The Federal Reserve's Foreign Exchange Swap Lines Michael J. Fleming and Nicholas J. Klagge Current Issues , Vol. 16 , No. 4 , April 2010 | Low |
| Quantifying the Benefits of a Liquidity-Saving Mechanism Enghin Atalay, Antoine Martin, and James McAndrews Staff Reports , No. 447 , May 2010 | Low |
| Shadow Banking Zoltan Pozsar, Tobias Adrian, Adam Ashcraft, and Hayley Boesky Staff Reports , No. 458 , July 2010 | Low |
| The Information Value of the Stress Test and Bank Opacity Don Morgan, Stavros Peristiani, and Vanessa Savino Staff Reports , No. 460 , July 2010 | Low |
| Financial Amplification Mechanisms and the Federal Reserve’s Supply of Liquidity during the Crisis Asani Sarkar and Jeffrey Shrader Economic Policy Review | Low |
| The Tri-Party Repo Market Before the 2010 Reforms Adam Copeland, Antoine Martin, and Michael Walker Staff Reports , No. 477 , November 2010 | Low |
| The Financial Crisis at the Kitchen Table: Trends in Household Debt and Credit Meta Brown, Andrew Haughwout, Donghoon Lee, and Wilbert van der Klaauw Staff Reports , No. 480 , December 2010 | Low |
| Why Is the Market Share of Adjustable-Rate Mortgages So Low? Emanuel Moench, James Vickery, and Diego Aragon Current Issues , Vol. 16 , No. 8 , December 2010 | Low |
| Repo Market Effects of the Term Securities Lending Facility Michael J. Fleming, Warren B. Hrung, and Frank Keane Staff Reports , No. 426 , January 2010 | Medium |
| Liquidity-Saving Mechanisms in Collateral-Based RTGS Payment Systems Marius Jurgilas and Antoine Martin Staff Reports , No. 438 , March 2009 | Medium |
| MBS Ratings and the Mortgage Credit Boom Adam B. Ashcraft, Paul Goldsmith-Pinkham, and James Vickery Staff Reports , No. 449 , May 2010 | Medium |
| Systemic Risk and Deposit Insurance Premium Viral Acharya, Joao Santos, and Tanju Yorulmazer Economic Policy Review , August 2010 | Medium |
| Repo Runs Antoine Martin, David Skeie, and Ernst-Ludwig Von Thadden Staff Reports , No. 444 , April 2010 | High |
| High | |
2009 Readings | Mathematical Complexity |
| The Shadow Banking System: Implications for Financial Regulation Tobias Adrian and Hyun Song Shin Staff Reports , No. 382 , July 2009 | Low |
| Why Are Banks Holding So Many Excess Reserves? Todd Keister and James J. McAndrews Staff Reports , No. 380 , July 2009 | Low |
| Below the Line: Estimates of Negative Equity among Nonprime Borrowers Andrew F. Haughwout and Ebiere Okah Economic Policy Review , Vol. 15 , No. 1 , July 2009 | Low |
| The Federal Reserve's Primary Dealer Credit Facility Tobias Adrian, Christopher R. Burke, and James J. McAndrews Current Issues , Vol. 15 , No. 4 , August 2009 | Low |
| Macroprudential Supervision of Financial Institutions: Lessons from the SCAP Beverly Hirtle, Til Schuermann, and Kevin Stiroh Staff Reports , No. 409 , November 2009 | Low |
| Why Are Banks Holding So Many Excess Reserves? Todd Keister and James J. McAndrews Current Issues , Vol. 15 , No. 8 , December 2009 | Low |
| Subprime Mortgage Pricing: The Impact of Race, Ethnicity, and Gender on the Cost of Borrowing Andrew F. Haughwout, Christopher Mayer, and Joseph Tracy Staff Reports , No. 368 , April 2009 | Medium |
| Bank Liquidity, Interbank Markets and Monetary Policy Xavier Freixas, Antoine Martin, and David R. Skeie Staff Reports , No. 371 , May 2009 | Medium |
| Barriers to Household Risk Management: Evidence from India Shawn Cole, Xavier Gine, Jeremy Tobacman, Petia Topalova, Robert Townsend, and James Vickery Staff Reports , No. 373 , May 2009 | Medium |
| Precautionary Reserves and the Interbank Market Adam Ashcraft, James McAndrews, and David Skeie Staff Reports , No. 370 , May 2009 | Medium |
| Price-Increasing Competition: The Curious Case of Overdraft v. Deferred Deposit Credit Brian T. Melzer and Don Morgan Staff Reports , No. 391 , September 2009 | Medium |
| Financial Intermediaries and Monetary Economics Tobias Adrian and Hyun Song Shin Staff Reports , No. 398 , October 2009 | Medium |
| The Mechanics of a Graceful Exit: Interest on Reserves and Segmentation in the Federal Funds Market Morten Bech and Elizabeth Klee Staff Reports , No. 416 , December 2009 | Medium |
| A Bayesian Approach to Estimating Tax and Spending Multipliers Matthew Denes and Gauti Eggertsson Staff Reports , No. 403 , November 2009 | High |
| What Fiscal Policy is Effective at Zero Interest Rates? Gauti Eggertsson Staff Reports , No. 402 , November 2009 | High |
2008 Readings | Mathematical Complexity |
| Liquidity, Monetary Policy, and Financial Cycles Tobias Adrian and Hyun Song Shin Current Issues , Vol. 14 , No. 1 , January/February 2008 | Low |
| Settlement Delays in the Money Market Leonardo Bartolini, Spence Hilton, and James McAndrews Staff Reports , No. 319 , March 2008 | Low |
| Should There Be Intraday Money Markets? Antoine Martin and James McAndrews Staff Reports , No. 337 , July 2008 | Low |
| The Effect of the Term Auction Facility on the London Inter-Bank Offered Rate Jamie McAndrews, Asani Sarkar, and Zhenyu Wang Staff Reports , No. 335 , July 2008 | Low |
| The Federal Reserve's Term Auction Facility Olivier Armantier, Sandra Krieger, and James McAndrews Current Issues , Vol. 14 , No. 5 , July 2008 | Low |
| Changes in the Timing Distribution of Fedwire Funds Transfers Olivier Armantier, Jeffrey Arnold, and Jamie McAndrews Economic Policy Review | Low |
| Divorcing Money from Monetary Policy Todd Keister, Antoine Martin, and James McAndrews Economic Policy Review , Vol. Forthcoming | Low |
| The Federal Home Loan Bank System: The Lender of Next-to-Last Resort? Adam B. Ashcraft, Morten L. Bech, and W. Scott Frame Staff Reports , No. 357 , November 2008 | Low |
| The Welfare Effects of a Liquidity-Saving Mechanism Enghin Atalay, Antoine Martin, and James McAndrews Staff Reports , No. 331 , June 2008 | Medium |
| Run Equilibria in the Green-Lin Model of Financial Intermediation Todd Keister and Huberto M. Ennis Staff Reports , No. 312 , January 2008 | High |
| Procyclical Leverage and Value-at-Risk Tobias Adrian and Hyun Song Shin Staff Reports , No. 338 , July 2008 | High |
| Which Bank Is the "Central" Bank? An Application of Markov Theory to the Canadian Large Value Transfer System Morten L. Bech, James T. E. Chapman, and Rod Garratt Staff Reports , No. 356 , November 2008 | High |
2006 Readings | Mathematical Complexity |
| Alternative Arrangements for the Distribution of Intraday Liquidity James McAndrews Current Issues , Vol. 12 , No. 3 , April 2006 | Medium |
Readings | Mathematical Complexity |
| Low | |
| The Role of Banks in Asset Securitization Nicola Cetorelli and Stavros Peristiani Economic Policy Review , Vol. 18 , No. 2 | Low |
