The Effects of Liquidity Regulation on Bank Demand in Monetary Policy Operations
نویسندگان
چکیده
We estimate the effects of liquidity coverage ratio (LCR), a requirement for banks, on tenders that banks submit in Term Deposit Facility operations, Federal Reserve tool created to manage quantity central bank reserves. identify these using variation LCR requirements across and change over time allowed term deposits count toward LCR. Banks subject more often larger than exempt when qualify These results suggest regulation affects demand monetary policy operations.
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ژورنال
عنوان ژورنال: Journal of Financial Intermediation
سال: 2021
ISSN: ['1042-9573', '1096-0473']
DOI: https://doi.org/10.1016/j.jfi.2020.100860