retail sweep programs / large banking institutions / bank reserves / bank / discretionary tool / larger banking institutions / correspondent bank / lagged reserve accounting procedures / non-bank counterparty / lagged reserve accounting framework / /
MarketIndex
SET 100 / /
Organization
Federal Reserve Bank of New York / Board of Governors of the Federal Reserve System / US Federal Reserve / Federal Reserve Board / Federal Open Market Committee / UC / /
Person
Seth Carpenter / Michael Kim / Jim Hamilton / Josh Rosenberg / Linda Allen / Rob Rich / Tony Rodrigues / /
The Impact of Banks’ Cumulative Reserve Position on Federal Funds Rate Behavior∗ Spence Hilton and Warren B. Hrung Federal Reserve Bank of New York We analyze the impact that reserve levels accumulated through the pr