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Required clearing balances

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  • Edward J. Stevens

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.

Suggested Citation

  • Edward J. Stevens, 1993. "Required clearing balances," Economic Review, Federal Reserve Bank of Cleveland, vol. 29(Q IV), pages 2-14.
    • Handle: RePEc:fip:fedcer:y:1993:i:qiv:p:2-14:n:v.29no.4
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    File URL: http://www.clevelandfed.org/Research/Review/1993/93-q4-stevens.pdf
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    References listed on IDEAS

    as
    1. Edward J. Stevens, 1989. "Removing the hazard of Fedwire daylight overdrafts," Economic Review, Federal Reserve Bank of Cleveland, vol. 25(Q II), pages 2-10.
    2. 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.
    3. 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.
    4. 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.
    5. Paul A. 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.).
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Árvai, Zsófia, 1995. "A kötelező tartalékráta szabályozásának átalakulása [Changes in the regulation of the obligatory reserve rate of banks]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(2), pages 201-214.
    2. Paul Bennett & R. 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).
    3. Edward J. Stevens, 1995. "Defining the monetary base in a deregulated financial system," Working Papers (Old Series) 9514, Federal Reserve Bank of Cleveland.
    4. Garth Baughman & Francesca Carapella, 2020. "Voluntary Reserve Targets," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(2-3), pages 583-612, March.
    5. McAndrews, James J. & Strahan, Philip E., 2002. "Deregulation, Correspondent Banking, and the Role of the Federal Reserve," Journal of Financial Intermediation, Elsevier, vol. 11(3), pages 320-343, July.
    6. Gordon H. Sellon & Stuart E. Weiner, 1997. "Monetary policy without reserve requirements : case studies and options for the United States," Economic Review, Federal Reserve Bank of Kansas City, vol. 82(Q II), pages 5-30.
    7. William T. Gavin, 2009. "More money: understanding recent changes in the monetary base," Review, Federal Reserve Bank of St. Louis, vol. 91(Mar), pages 49-60.
    8. 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.

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