Tallman, Ellis W. (contributor); Moen, Jon R. (contributor) - 2007 - Rev.
document how the dominant national banks were crucial providers of temporary liquidity during the Panic of 1907. Clearinghouse … liquidity providers by requesting (and the New York clearinghouse issuing) a volume of clearinghouse loan certificates beyond … their own immediate liquidity needs. While loan certificates were a temporary solution at best to the liquidity crisis in …