Atlanta Fed research offers 17th century lessons for proposed standing repo facility

Fed note

The Federal Reserve should pay “careful regard” to earlier experiences with implementing a standing repo facility, as managing such facilities during crises can be challenging, warns research published by the Federal Reserve Bank of Atlanta.

Stephen Texas, William Roberds and Charles Kahn analyse a 17th century Dutch standing repo facility to draw historical lessons for the Fed, which is considering creating a similar facility following September’s repo market shock.

The Bank of Amsterdam

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