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Week 4 — Lectures 6 & 7, Reading 3

Perry Mehrling's Money and Banking MOOC

Start time:

June 10, 2021 @ 6:00 pm - 7:00 pm

Virtual Project Virtual Project
project Series Event Series (See All)

EDT

Location:

Online

Type:

Other

project Series Event Series (See All)
Virtual Project Virtual Project

Description

We're discussing the following for week 4:

Lecture 6: Federal Funds, Final Settlement

Lecture Notes
This lecture describes a stylized version of the US payment system, and how the Fed Funds market (interbank lending) used to allocate reserves among the banks before 2008. Lots of great balance-sheet practice for understanding how a credit-based payment system can work.

Lecture 7: Repos, Postponing Settlement

Lecture Notes
A repurchase agreement (repo or RP) is a form of short-term market-based collateralized credit that allows non-banks to buy and sell liquidity, and operate like a payments system.

Reading 3: The Check System, a chapter from Chapters on the Theory and History of Banking by Charles Dunbar

Study Questions
This is a description of the checking system in the US in the late 19th century. We still had to make the payments system go even before we had the Fed.

Money and Banking Summer 2021 Reddit Master Thread

Hosted by Working Group(s):

Organizers

Attendees

Celso Gonzalez

Lokesh Shah

Raphaele Chappe

Chris Rimmer

Ramon Gimenez

Divyam Jindal

Mihir Naik

Lindsay McGrath

Jesus Uriegas

Alex Howlett

Jim Bramlett

Rok Piletic

Larissa de Lima

Ádám Kerényi

Bethany Burum

Jennifer Judge

Win Monroe