Quantifying the benefits of a liquidity-saving mechanism

This paper attempts to quantify the benefits associated with operating a liquidity-saving mechanism (LSM) in Fedwire, the large-value payment system of the Federal Reserve. Calibrating the model of Martin and McAndrews (2008), we find that potential gains are large compared to the likely cost of implementing an LSM, on the order of hundreds of thousands of dollars per day.

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Year of publication:	2010
Authors:	Atalay, Enghin ; Martin, Antoine ; McAndrews, James
Publisher:	New York, NY : Federal Reserve Bank of New York
Subject:	Liquidity-saving mechanisms \| real-time gross settlement \| large-value payment systems

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Series:	Staff Report ; 447
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	635889420 [GVK] hdl:10419/60812 [Handle]
Classification:	E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System ; E58 - Central Banks and Their Policies ; G21 - Banks; Other Depository Institutions; Mortgages
Source:	EconStor

Persistent link: https://www.econbiz.de/10010287079