IDEAS home Printed from https://ideas.repec.org/p/fip/fednls/87318.html
   My bibliography  Save this paper

Dealer Participation in the TSLF Options Program

Author

Abstract

Our previous post described the workings of the Term Securities Lending Facility Options Program (TOP), which offered dealers options for obtaining short-term loans over month- and quarter-end dates during the global financial crisis of 2007-08. In this follow-up post, we examine dealer participation in the TOP, including the extent to which dealers bid for options, at what fees, and whether they exercised their options. We also provide evidence on how uncertainty in dealers’ funding positions was related to the demand for the liquidity options.

Suggested Citation

  • Erin Denison & Michael J. Fleming & Warren B. Hrung & Asani Sarkar, 2019. "Dealer Participation in the TSLF Options Program," Liberty Street Economics 20190306a, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:87318
    as

    Download full text from publisher

    File URL: https://libertystreeteconomics.newyorkfed.org/2018/02/dealer-participation-in-the-tslf-options-program.html
    File Function: Full text
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    crisis; liquidity facilities; dealers; lenders of last resort;
    All these keywords.

    JEL classification:

    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fednls:87318. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Gabriella Bucciarelli (email available below). General contact details of provider: https://edirc.repec.org/data/frbnyus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.