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Determinants of the spread between Treasury bill and private sector money market rates

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  • Timothy Q. Cook

Abstract

The purpose of this paper is to explore the reasons underlying the variable and sometimes very large differentials between United States Treasury bill rates and private sector U.S. money market rates of comparable maturity.

Suggested Citation

  • Timothy Q. Cook, 1980. "Determinants of the spread between Treasury bill and private sector money market rates," Working Paper 79-04, Federal Reserve Bank of Richmond.
    • Handle: RePEc:fip:fedrwp:79-04
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    References listed on IDEAS

    as
    1. Jaffee, Dwight M., 1975. "Cyclical variations in the risk structure of interest rates," Journal of Monetary Economics, Elsevier, vol. 1(3), pages 309-325, July.
    2. R. Alton Gilbert & Jean M. Lovati, 1978. "Bank reserve requirements and their enforcement: a comparison across streets," Review, Federal Reserve Bank of St. Louis, vol. 60(Mar), pages 22-31.
    3. Hendershott, Patric H & Kidwell, David S, 1978. "The Impact of Relative Security Supplies: A Test with Data from a Regional Tax-Exempt Bond Market," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 10(3), pages 337-347, August.
    4. Timothy Q. Cook & Jeremy G. Duffield, 1979. "Money market mutual funds : a reaction to government regulations or a lasting financial innovation?," Economic Review, Federal Reserve Bank of Richmond, vol. 65(Jul), pages 15-31.
    5. Scott Winningham, 1979. "The effect of money market certificates of deposit on the monetary aggregates and their components," Economic Review, Federal Reserve Bank of Kansas City, vol. 64(Jul), pages 20-29.
    6. Thomas A. Lawler, 1978. "Seasonal movements in short-term yield spreads," Economic Review, Federal Reserve Bank of Richmond, vol. 64(Jul), pages 10-17.
    7. Cook, Timothy Q & Hendershott, Patric H, 1978. "The Impact of Taxes, Risk and Relative Security Supplies on Interest Rate Differentials," Journal of Finance, American Finance Association, vol. 33(4), pages 1173-1186, September.
    8. V. Vance Roley, 1978. "Federal debt management policy: a re-examination of the issues," Economic Review, Federal Reserve Bank of Kansas City, vol. 63(Feb), pages 14-23.
    9. Bruce J. Summers, 1977. "Bank capital adequacy : perspectives and prospects," Economic Review, Federal Reserve Bank of Richmond, vol. 63(Jul), pages 3-8.
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    Keywords

    Money market; Government securities;

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