Gara Afonso |
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Head of Banking Studies |
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A New Set of Indicators of Reserve Ampleness When Are Central Bank Reserves Ample? Who Is Borrowing and Lending in the Eurodollar and Selected Deposit Markets? Dropping Like a Stone: ON RRP Take-up in the Second Half of 2023 Treasury Bill Supply and ON RRP Investment Who’s Borrowing and Lending in the Fed Funds Market Today? The Federal Reserve’s Two Key Rates: Similar but Not the Same? Banks’ Balance-Sheet Costs and ON RRP Investment Monetary Policy Transmission and the Size of the Money Market Fund Industry: An Update Measuring the Ampleness of Reserves The Fed's Latest Tool: A Standing Repo Facility How the Fed Adjusts the Fed Funds Rate within Its Target Range How the Fed's Overnight Reverse Repo Facility Works How the Federal Reserve's Monetary Policy Implementation Framework Has Evolved How Bank Reserves Are Distributed Matters. How You Measure Distribution Matters Too. A New Reserves Regime? COVID-19 and the Federal Reserve Balance Sheet From Policy Rates to Market Rates—Untangling the U.S. Dollar Funding Market Understanding Cyber Risk: Lessons from a Recent Fed Workshop Coming to Terms with Operational Risk Size Is Not All: Distribution of Bank Reserves and Fed Funds Dynamics Did the Dodd-Frank Act End ‘Too Big to Fail’? Mission Almost Impossible: Developing a Simple Measure of Pass-through Efficiency How Have High Reserves and New Policy Tools Reshaped the Fed Funds Market? What Do Bond Markets Think about “Too-Big-to-Fail” Since Dodd-Frank? What Do Rating Agencies Think about “Too-Big-to-Fail” Since Dodd-Frank? Do “Too-Big-to-Fail” Banks Take On More Risk? Who’s Borrowing in the Fed Funds Market? Who’s Lending in the Fed Funds Market? Why (or Why Not) Keep Paying Interest on Excess Reserves? When Do Trading Frictions Increase Liquidity? Just Released: Money and Payments Workshop Examines Repo Market Reform Gara Afonso's CV The views expressed in the papers listed on this page are those of the author(s) and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System. |