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Recent innovations in Treasury cash management

Author

Listed:
  • Kenneth D. Garbade
  • John C. Partlan
  • Paul J. Santoro

Abstract

The Treasury Tax and Loan program, a joint undertaking of the Treasury and the Federal Reserve, is designed to manage federal tax receipts and stabilize the supply of reserves in the banking system. Three recent innovations-electronic collection of business taxes, real-time investment of excess Treasury balances, and competitive bidding for Treasury deposits-have materially enhanced the ability of the two agencies to achieve these objectives.

Suggested Citation

  • Kenneth D. Garbade & John C. Partlan & Paul J. Santoro, 2004. "Recent innovations in Treasury cash management," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 10(Nov).
    • Handle: RePEc:fip:fednci:y:2004:i:nov:n:v.10no.11
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    Citations

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    Cited by:

    1. Busharads, Mohamed Osman Elamin & Sam-Quarm, Richmond & Sam-Quarm, Richmond & Institute of Research, Asian, 2020. "The Ramifications of the Treasury Single Account, the Ifmis Platform, and Government Cash Management in Developing Economies in the Wake of the Covid-19 Pandemic: Ghana’s Empirical Example," OSF Preprints j9dcx, Center for Open Science.
    2. Friedman, Benjamin M. & Kuttner, Kenneth N., 2010. "Implementation of Monetary Policy: How Do Central Banks Set Interest Rates?," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 24, pages 1345-1438, Elsevier.
    3. Kenneth D. Garbade, 2007. "The emergence of \\"regular and predictable\\" as a Treasury debt management strategy," Economic Policy Review, Federal Reserve Bank of New York, vol. 13(Mar), pages 53-71.
    4. Paul J. Santoro, 2012. "The evolution of Treasury cash management during the financial crisis," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 18(Apr).
    5. Israel Fainboim Yaker & Sailendra Pattanayak, 2010. "Treasury Single Account: Concept, Design and Implementation Issues," IMF Working Papers 2010/143, International Monetary Fund.
    6. Kenneth D. Garbade & Matthew Rutherford, 2007. "Buybacks in Treasury cash and debt management," Staff Reports 304, Federal Reserve Bank of New York.

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