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| Financial Intermediation |
| Economists in the Financial Intermediation Function conduct research and policy-oriented analysis on a wide range of issues relating to financial intermediation and financial markets, including the behavior and health of financial institutions, innovations in financial markets, and the development of appropriate supervisory tools and techniques. |
| Features |
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| The Fifth New York Fed/NYU Stern Conference on Financial Intermediation A conference jointly sponsored by the Federal Reserve Bank of New York and the Salomon Center at New York University's Leonard N. Stern School of Business. This one-day conference aims to enhance the interaction among researchers interested in financial intermediation. |
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| Banking Research Datasets The Federal Reserve Bank of New York would like to announce the publication of a historical mapping between CRSP PERMCO (R) and the regulatory entity code for banks and bank holding companies. This data set is available for download free of charge for public use. In lieu of using this link, researchers are typically forced to hand-match market data to regulatory data on the basis of institution name. Unfortunately, this process is time-consuming and mistake-prone. This data set is provided as a public service in order to reduce the time costs of using market data in banking research and to make it easier for researchers to replicate existing research. |
| Recent Articles |
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 The Changing Nature of Financial Intermediation and the Financial Crisis of 2007-09The authors describe the changing nature of financial intermediation in the market-based financial system, chart the course of the recent financial crisis, and outline the policy responses that have been implemented by the Federal Reserve and other central banks. By Tobias Adrian and Hyun Song Shin, Staff Reports 439, March 2010 |
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| Stressed, not Frozen: The Federal Funds Market in the Financial Crisis This paper examines the impact of the financial crisis of 2008, specifically the bankruptcy of Lehman Brothers, on the federal funds market. By Gara Afonso, Anna Kovner, and Antoinette Schoar, Staff Reports 437, March 2010 |
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| Financial Amplification Mechanisms and the Federal Reserve’s Supply of Liquidity during the Crisis
The authors review the literature on financial amplification mechanisms and discuss the Federal Reserve’s interventions during different stages of the crisis in light of this literature. By Asani Sarkar and Jeffrey Shrader, Staff Reports 431, February 2010 |
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| Macro Risk Premium and Intermediary Balance Sheet Quantities The authors base their argument in this paper on the relationship between the macro risk premium and the growth of financial intermediaries’ balance sheets. By Tobias Adrian, Emanuel Moench, and Hyun Song Shin, Staff Reports 428, January 2010 |
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| The Federal Reserve's Commercial Paper Funding Facility This paper documents aspects of the financial crisis relevant to the creation of the CPFF, reviews the operation of the CPFF, discusses use of the facility, and draws conclusions for lender-of-last-resort facilities in a market-based financial system. By Tobias Adrian, Karin Kimbrough, and Dina Marchioni, Staff Reports 423, January 2010 |
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