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Interest on Excess Reserves and U.S. Commercial Bank Lending

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Abstract

In this note, we empirically assess whether changes in the interest on excess reserves (IOER) rate and changes in the spread between the IOER rate and the effective federal funds rate (EFFR) have affected banks’ reserve holdings and lending, controlling for changes in the stance of monetary policy and other macroeconomic conditions.

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  • Marcelo Rezende & Judit Temesvary & Rebecca Zarutskie, 2019. "Interest on Excess Reserves and U.S. Commercial Bank Lending," FEDS Notes 2019-10-18, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgfn:2019-10-18
    DOI: 10.17016/2380-7172.2453
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    File URL: https://www.federalreserve.gov/econres/notes/feds-notes/interest-on-excess-reserves-and-us-commercial-bank-lending-20191018.htm
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    Cited by:

    1. ByBenjamin M. Blau & Todd G. Griffith & Ryan J. Whitby, 2022. "Lobbying and lending by banks around the financial crisis by," Public Choice, Springer, vol. 192(3), pages 377-397, September.

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