The Federal Reserve’s 'balance-sheet normalization', which reduced aggregate reserves between 2017 and September 2019, increased repo rate distortions, the severity of rate spikes, and intraday payment timing stresses, culminating with a significant disruption in Treasury repo markets in...

The Federal Reserve's "balance-sheet normalization," which reduced aggregate reserves between 2017 and September 2019, increased repo rate distortions, the severity of rate spikes, and intraday payment timing stresses, culminating with a significant disruption in Treasury repo markets in...

The Federal Reserve's "balance-sheet normalization," which reduced aggregate reserves between 2017 and September 2019, increased repo rate distortions, the severity of rate spikes, and intraday payment timing stresses, culminating with a significant disruption in Treasury repo markets in...

Repurchase Agreements (repos) have received increasing scrutiny as a result of their involvement in the recent financial crisis. While viewed as an important part of the ‘shadow banking system’ allowing non-banks to access liquidity and expand leverage, the legal and accounting status of...

Dues and taxes, as a component part of cash flows can be managed according to general procedures of payment; this is the hypothesis, from which it starts, in what follows, in the assessment of payments management. A technique that characterizes especially the qualitative aspect of payments...

Subprime residential mortgage loan securitization and its associated risks have been a major topic of discussion since the onset of the subprime mortgage crisis (SMC) in 2007. In this regard, the thesis addresses the issues of subprime residential mortgage loan (RML) securitization in discrete-,...

Notwithstanding concerns that the dollar’s prospects as a reserve currency have been dimmed by the crisis, there has been no actual diminution of the dollar’s international role. The dollar will remain the principal form of international reserves for the foreseeable future.