THE MONEY MARKET MUTUAL FUND LIQUIDITY FACILITY.

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المؤلفون: Anadu, Kenechukwu; Cipriani, Marco; Craver, Ryan; La Spada, Gabriele
المصدر:
Economic Policy Review (19320426). Jun2022, Vol. 28 Issue 1, p139-160. 22p.

معلومة اضافية
- الموضوع:
  MONEY market funds; BOARD of Governors of the Federal Reserve System (U.S.); LIQUIDITY (Economics); INTEREST rates; FEDERAL Reserve Bank of New York; BANK capital; GOVERNMENT securities; ECONOMIC forecasting; FEDERAL Reserve monetary policy
- نبذة مختصرة :
  The article reports that in March 2020, at the onset of the COVID-19 pandemic, investors redeemed their shares en masse from both domestic and offshore dollar-denominated prime money market funds (MMFs). Relative to the size of the prime MMF industry, the run was remarkably similar to the run that took place in September 2008, during the global financial crisis, notwithstanding the starkly different natures of the shocks that precipitated the two episodes.