Discussion Paper
Interest on Excess Reserves and U.S. Commercial Bank Lending
Abstract: In this note, we empirically assess whether changes in the interest on excess reserves (IOER) rate and changes in the spread between the IOER rate and the effective federal funds rate (EFFR) have affected banks’ reserve holdings and lending, controlling for changes in the stance of monetary policy and other macroeconomic conditions.
https://doi.org/10.17016/2380-7172.2453
Access Documents
File(s): File format is text/html https://www.federalreserve.gov/econres/notes/feds-notes/interest-on-excess-reserves-and-us-commercial-bank-lending-20191018.htm
Bibliographic Information
Provider: Board of Governors of the Federal Reserve System (U.S.)
Part of Series: FEDS Notes
Publication Date: 2019-10-18
Number: 2019-10-18