Central bank tools for steering short-term interest rates (notice n° 577229)
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| fixed length control field | 01550cam a2200217 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250121134728.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Beaupain, Renaud |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Central bank tools for steering short-term interest rates |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2019.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 46 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | In a context marked by manipulation attempts and by declining money market activity, this paper takes a new look at reference interest rates. More specifically, we discuss the operational tools used by central banks to steer those rates and we compare the operational frameworks of the Federal Reserve in the United States and of the European Central Bank in the euro area. We show how the interest rate corridor has provided a ceiling and a floor to the unsecured overnight interest rate in Europe and how the corridor implemented by the Federal Reserve at the peak of the financial crisis was subsequently adjusted to offer an effective floor to its interbank market, notably through the implementation of an overnight reverse repurchase agreements program. JEL Codes: E520 |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | operational framework |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | central bank facilities |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | overnight reverse repurchase agreements |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | interest rate corridor |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Braouézec, Yann |
| Relator term | author |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Reflets et perspectives de la vie économique | Volume LVI | 4 | 2019-03-11 | p. 113-123 | 0034-2971 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-reflets-et-perspectives-de-la-vie-economique-2017-4-page-113?lang=en&redirect-ssocas=7080">https://shs.cairn.info/journal-reflets-et-perspectives-de-la-vie-economique-2017-4-page-113?lang=en&redirect-ssocas=7080</a> |
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