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Lessons Learned: Susan McLaughlin

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Abstract

A veteran staff member of the Federal Reserve Bank of New York (FRBNY), Susan McLaughlin served as head of the discount window and chief operating officer of the FRBNY's Markets Trading Desk during the Global Financial Crisis. She was centrally involved in the Fed's policy response to the disruptions to secured and unsecured funding markets during 2007-2008. Following the crisis, McLaughlin coordinated an effective Fed initiative to reform the triparty repurchase agreement (repo) market's settlement infrastructure. The Fed's reform efforts, engaging the financial industry under FRBNY president Bill Dudley, were instrumental in im-proving the stability of the funding market. This Lesson Learned is based on an interview conducted with McLaughlin on December 2, 2020.

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  • Lieber, Matthew, 2022. "Lessons Learned: Susan McLaughlin," Journal of Financial Crises, Yale Program on Financial Stability (YPFS), vol. 4(3), pages 205-208, April.
    • Handle: RePEc:ysm:ypfsfc:v:4:y:2022:i:3:p:205-208
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    File URL: https://elischolar.library.yale.edu/cgi/viewcontent.cgi?article=1428&context=journal-of-financial-crises
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    Keywords

    Market trading desk; repos; discount window; USD funding; stigma;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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