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The Fed's Discount Window: An Overview of Recent Data

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Abstract

From July 2010 until June 2015, the Federal Reserve made over 16,000 loans to financial institutions through the discount window. Recent regulations mandate the release of detailed information about individual loans two years after their occurrence. We study the newly available loan data and uncover the main patterns that broadly describe activity at the Fed?s discount window in recent years.

Suggested Citation

  • Felix P. Ackon & Huberto M. Ennis, 2018. "The Fed's Discount Window: An Overview of Recent Data," Working Paper 18-8, Federal Reserve Bank of Richmond.
    • Handle: RePEc:fip:fedrwp:18-08
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    References listed on IDEAS

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    1. Craig Furfine, 2003. "Standing Facilities and Interbank Borrowing: Evidence from the Federal Reserve's New Discount Window," International Finance, Wiley Blackwell, vol. 6(3), pages 329-347, November.
    2. Armantier, Olivier & Ghysels, Eric & Sarkar, Asani & Shrader, Jeffrey, 2015. "Discount window stigma during the 2007–2008 financial crisis," Journal of Financial Economics, Elsevier, vol. 118(2), pages 317-335.
    3. Itamar Drechsler & Thomas Drechsel & David Marques-Ibanez & Philipp Schnabl, 2016. "Who Borrows from the Lender of Last Resort?," Journal of Finance, American Finance Association, vol. 71(5), pages 1933-1974, October.
    4. Huberto M. Ennis & Alexander L. Wolman, 2015. "Large Excess Reserves in the United States: A View from the Cross-Section of Banks," International Journal of Central Banking, International Journal of Central Banking, vol. 11(1), pages 251-289, January.
    5. repec:bla:intfin:v:6:y:2003:i:3:p:329-47 is not listed on IDEAS
    6. Efraim Benmelech, 2012. "An Empirical Analysis of the Fed's Term Auction Facility," NBER Working Papers 18304, National Bureau of Economic Research, Inc.
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    discount window;

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