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Required clearing balances

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  • E.J. Stevens
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    Abstract

    A description of the little-known rules governing the holding of required clearing balances at the Federal Reserve Banks, a look at the growing popularity of this relatively new phenomenon, and an analysis of its impact on the setting and measuring of monetary policy.

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    File URL: http://www.clevelandfed.org/Research/Review/1993/93-q4-stevens.pdf
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    Bibliographic Info

    Article provided by Federal Reserve Bank of Cleveland in its journal Economic Review.

    Volume (Year): (1993)
    Issue (Month): Q IV ()
    Pages: 2-14

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    Handle: RePEc:fip:fedcer:y:1993:i:qiv:p:2-14:n:v.29no.4

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    Related research

    Keywords: Bank reserves ; Monetary policy;

    References

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    1. William Poole, 1968. "Commercial Bank Reserve Management In A Stochastic Model: Implications For Monetary Policy," Journal of Finance, American Finance Association, vol. 23(5), pages 769-791, December.
    2. Michelle R. Garfinkel & Daniel L. Thornton, 1991. "Alternative measures of the monetary base: what are the differences and are they important?," Review, Federal Reserve Bank of St. Louis, issue Nov, pages 19-35.
    3. Paul Spindt & Vefa Tarhan, 1978. "The liquidity structure adjustment decision of large money center banks," Special Studies Papers 121, Board of Governors of the Federal Reserve System (U.S.).
    4. E.J. Stevens, 1989. "Removing the hazard of Fedwire daylight overdrafts," Economic Review, Federal Reserve Bank of Cleveland, issue Q II, pages 2-10.
    5. Douglas D. Evanoff, 1989. "Reserve account management behavior: impact of the reserve accounting scheme and carry forward provision," Working Paper Series, Issues in Financial Regulation 89-12, Federal Reserve Bank of Chicago.
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    Citations

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    Cited by:
    1. Richard G. Anderson & Robert H. Rasche, 1996. "Measuring the adjusted monetary base in an era of financial change," Review, Federal Reserve Bank of St. Louis, issue Nov, pages 3-37.
    2. E.J. Stevens, 1995. "Defining the monetary base in a deregulated financial system," Working Paper 9514, Federal Reserve Bank of Cleveland.
    3. Paul Bennett & Spence Hilton, 1997. "Falling reserve balances and the federal funds rate," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 3(May).

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