The Federal Home Loan Bank System: The Lender of Next-to-Last Resort?

The Federal Home Loan Bank (FHLB) System is a large cooperatively owned government-sponsored liquidity facility that lends predominately to U.S. depository institutions. This paper documents the significant role played by the FHLB System at the outset of the recent financial crisis and provides evid...

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Veröffentlicht in:	Journal of money, credit and banking credit and banking, 2010-06, Vol.42 (4), p.551-583
Hauptverfasser:	ASHCRAFT, ADAM, BECH, MORTEN L., FRAME, W. SCOTT
Format:	Artikel
Sprache:	eng
Schlagworte:	Bank assets Bank credit Bank liquidity Bank loans Credit Economic conditions Economic crisis Federal funds Federal Reserve Bank Financial services Forecasts Funding G21 G28 Government sponsored enterprises government-sponsored enterprise Home loans lender of last resort Lending Liquidity Loans Mortgage loans Public sector Studies U.S.A
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