The Impact of Banks’ Cumulative Reserve Position on Federal Funds Rate Behavior

B-Tier
Journal: International Journal of Central Banking
Year: 2010
Volume: 6
Issue: 3
Pages: 101-118

Authors (2)

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We analyze the impact that reserve levels accumulated through the preceding day in a reserve maintenance period have on the level of the federal funds rate each morning prior to when open-market operations are arranged. Our empirical results and other evidence provided about intraday patterns of the federal funds rate demonstrate that the pace at which reserves are supplied over a maintenance period to meet banks’ total reserve requirements is an important determinant of federal funds rate behavior.

Technical Details

RePEc Handle
repec:ijc:ijcjou:y:2010:q:3:a:3
Journal Field
Macro
Author Count
2
Added to Database
2026-02-02