Ashcraft, Adam B. (contributor); Bech, Morten L. (contributor) - 2008
member-borrowers when choosing between accessing the FHLB System or the Federal Reserve’s Discount Window during the crisis …The Federal Home Loan Bank (FHLB) System is a large, complex, and understudied government-sponsored liquidity facility … paper, we document the significant role played by the FHLB System at the onset of the ongoing financial crises and then …