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Required clearing balances

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  • E.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

  • E.J. Stevens, 1993. "Required clearing balances," Economic Review, Federal Reserve Bank of Cleveland, issue 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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    File URL: https://fraser.stlouisfed.org/scribd/?toc_id=153503&filepath=/docs/publications/frbclevreview/rev_frbclev_1993q4.pdf&start_page=3#scribd-open
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    References listed on IDEAS

    as
    1. E.J. Stevens, 1989. "Removing the hazard of Fedwire daylight overdrafts," Economic Review, Federal Reserve Bank of Cleveland, issue Q II, pages 2-10.
    2. 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.
    3. 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.
    4. 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.
    5. 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.).
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    Cited by:

    1. Edward J. Stevens, 1995. "Defining the monetary base in a deregulated financial system," Working Paper 9514, Federal Reserve Bank of Cleveland.
    2. 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.
    3. 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.
    4. 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).

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