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Journal Article
Income effects of Federal Reserve liquidity facilities
One of the chief actions taken by the Federal Reserve in response to the financial crisis was the introduction or expansion of facilities designed to provide liquidity to the funding markets. A study of the programs suggests that the liquidity facilities generated $20 billion in interest and fee income between August 2007 and December 2009, or $13 billion after taking into account the estimated $7 billion cost of funds. Moreover, the Fed took important steps to limit the credit exposure it incurred in connection with the facilities.
Speech
Reflections on the TALF and the Federal Reserve's role as liquidity provider
Remarks at the New York Association for Business Economics, New York City.
Journal Article
Preliminary figures on operating income for 1992 released
Journal Article
Preliminary figures on operating income for 1993 released
Journal Article
Earnings and expenses of member banks