Arbeitspapier
Should there be intraday money markets?
In this paper, we consider the case for an intraday market for reserves. We discuss the separate roles of intraday and overnight reserves and argue that an intraday market could be organized in the same way as the overnight market. We present arguments for and against a market for intraday reserves when the marginal cost of overnight reserves is positive. We also consider how reserves should be supplied when the cost of overnight reserves is zero. In that case, the distinction between overnight and intraday reserves becomes blurred, raising an important question: What is the role of the overnight market?
- Sprache
-
Englisch
- Erschienen in
-
Series: Staff Report ; No. 337
- Klassifikation
-
Wirtschaft
Financial Markets and the Macroeconomy
Central Banks and Their Policies
- Thema
-
Central bank reserves
money market
Refinanzierung
Tagesgeldmarkt
Geldmarkt
Theorie
USA
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Martin, Antoine
McAndrews, James
- Ereignis
-
Veröffentlichung
- (wer)
-
Federal Reserve Bank of New York
- (wo)
-
New York, NY
- (wann)
-
2008
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Martin, Antoine
- McAndrews, James
- Federal Reserve Bank of New York
Entstanden
- 2008
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