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dc.contributor.authorMcAndrews, Jamesen_US
dc.contributor.authorSarkar, Asanien_US
dc.contributor.authorWang, Zhenyuen_US
dc.date.accessioned2010-04-28en_US
dc.date.accessioned2012-08-17T14:32:48Z-
dc.date.available2012-08-17T14:32:48Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/60760-
dc.description.abstractThis paper examines the effects of the Federal Reserve's Term Auction Facility (TAF) on the London Inter-Bank Offered Rate (LIBOR). The particular question investigated is whether the announcements and operations of the TAF are associated with downward shifts of the LIBOR; such an association would provide one indication of the efficacy of the TAF in mitigating liquidity problems in the interbank funding market. The empirical results suggest that the TAF has helped to ease strains in this market.en_US
dc.language.isoengen_US
dc.publisherFederal Reserve Bank of New York New York, NYen_US
dc.relation.ispartofseriesStaff Report, Federal Reserve Bank of New York 335en_US
dc.subject.jelG10en_US
dc.subject.jelG12en_US
dc.subject.jelG18en_US
dc.subject.jelG19en_US
dc.subject.ddc330en_US
dc.subject.keywordLIBORen_US
dc.subject.keywordliquidityen_US
dc.subject.keywordmoney marketsen_US
dc.subject.keywordTerm Auction Facilityen_US
dc.titleThe effect of the term auction facility on the London inter-bank offered rateen_US
dc.typeWorking Paperen_US
dc.identifier.ppn587548975en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Staff Reports, Federal Reserve Bank of New York

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