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
Breaking Down Geographic Barriers on Banks: U.S. and EU Recent Experiences

Breaking Down Geographic Barriers on Banks: U.S. and EU Recent Experiences

The integration of a banking system across state boundaries impacts the bank system's soundness and efficiency. Notes from the Vault discusses progress towards such integration in the United States and European Union and how that progress affected their respective responses to the financial crisis.
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Liquidity Backstops and Dynamic Debt Runs

Liquidity Backstops and Dynamic Debt Runs

Two similar types of municipal debt had very different outcomes during the crisis based on whether they had a liquidity backstop. A new Notes from the Vault explains these differences and discusses their implications for shadow banks.
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