Center for Financial Innovation and Stability

The purpose of the Center for Financial Innovation and Stability is to improve knowledge of financial innovation and financial stability as well as the connection between the two, especially as it pertains to Federal Reserve policymaking.


Features
"Smart Contracts" in a Complex World

"Smart Contracts" in a Complex World

Smart contracts that rely on computer code are being promoted as possible replacements for paper contracts. Notes from the Vault uses the recent diversion of funds at the smart contract the Distributed Autonomous Organization (DAO) to analyze the two types of contracts.
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TAF: The Cure-All for Stigma?

TAF: The Cure-All for Stigma?

Stigma has long inhibited use of the Federal Reserve's discount window. The Fed's Term Auction Facility (TAF) overcame stigma during the recent crisis. Notes from the Vault discusses the reasons for the TAF's success and some implications for the future.
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