Fed paper examines impact of liquidity rules on dealers


The liquidity coverage ratio (LCR) has induced US dealers to change their behaviour, although some de-risking was already under way after the 2008 crisis, according to a Federal Reserve working paper.

Liquidity regulation and financial intermediaries, by Marco Macchiavelli and Luke Pettit, draws on confidential data on dealers’ financing and positions as well as information on triparty repo transactions to uncover changing patterns of behaviour. The authors exploit the fact that US liquidity

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: