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Zoltán Pozsár: Financial stability in the age of Covid-19

YSI COVID-19 Webinar Series

Start time:

April 23, 2020 @ 3:30 pm - 5:00 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

Speakers

Speaker Image
Zoltán Pozsár

Managing Directo

Description

Money is hierarchical and during crises, rules are flexible at the core and rigid at the periphery. In this crisis, the penalty rate part of Bagehot’s rule was replaced with “friendly” rates for the core – with Covid-19 there is no moral hazard in lending to the core of the system at low rates. (…) the net impact of this rule will be that primary dealers will be able to run “limitless Treasury inventories”, which, if need be, will be financed via repos by the Fed. In that sense, the Board of Governors of the Fed is “drafting” the dealer community to take part in the war effort – by financing the war on Covid-19. Paraphrasing Churchill: “we give you the balance sheet, and you’ll finish the job”

*PLEASE ACCESS THE RECORDING HERE. *
If you click 'listen' on the panel on right, you'll be able to listen to the Q&A.

Hosted by Working Group(s):

Attendees

Aleksandar Stojanović

Gerhardt "Kiko" Kalterherberg

Ádám Kerényi

Rasheed Saleuddin

Chiara Benvenuto

Kefei Wu

Andrew Medeiros

Sachin Sharma

Nguyen Thi Thu Ha

Zain Siddiqui

Agustin Pedrazzoli

Firdous Ahmad Malik

Paul Nelson

Dhruv SHARMA

RITIKA PATHAK

Pritika Dua

Rohan Chinchwadkar

Gabriel Nicholson

John O'Brien

Daniel von Ahlen

Tom Saville

Aneesha Chitgupi

Imad Archid

Ajibola Akanji

Bo Jiang

Audra Aucoin

Josselin Roman

Adrien d'Avernas

Gregor Šergan

Quentin Vandeweyer

Arjan Reurink

Signe Persdotter

Rabee Rajoub

Jay Pocklington

Nurlan Jahangirli

Yeasin Mohammad Amin

Christoph Becker

Charles Coste

BH Bang

Gaurav Gandhi

Peter Holtzer

Asgeir B. Torfason

Charles Wan

Justin Guo

Chijioke J. Evoh

Michal Mozdzen

farhad gohardani

giuseppe simone

Maria Caecilia Schweinberger

Cem Gultekin

Jonah Wolf

Binqi Liu

Ieva Miknevičiūtė

Mohamed Lehbib

Nick Jackson

Remedios Lomax

Ilja Viktorov

Peter Szilagyi

Christopher Pomwene Shafuda

Desislava Valkova

Rudy Bouguelli

Fernanda Feil

Jorim Gerrard

Maria Cecilia del Barrio Arleo

Christina Mosalagae

Ruxandra Pavelchievici

sheen zutshi

Stefano Merlo

Ted Klassen

Nathalie Marins

Frederik Vitting Hermann

Abdelrahiem Khalifa

Michael Rendon

Stephanie Dossou

Étienne Desfossés

Germán Vargas

John S Qin

Emilia Buccella

Francesca T. C. Manning

Ozer Karakayaci

Christian Arnd

Florenz Volkaert

Thijs Kieboom

Vroni Lemeire

Anushree Kini

Henry Greenfield

William Machi

Nemeth Katinka

Míriam Oliveira

Balázs Scher

Luisa Scarcella

Michael Obaga

Serhat Konuk

Martin Schmidt

Claire Novak

Matthew Bone

Dario Laudati

Bayu Perdana Putra

Joe Hagerty

Kesia Braga

Cristiano Duarte

Joel C.

Anahita Hosseini

Tünde Katalin Szántó

Joel Rabinovich

Rafael Lima Sakr

Natasha Kunesch

Pavel Porozov

anne loescher

Zsofia Zador

Thomas Vass

Adam Jackson

Kashish Aggarwal

Christian Metzler

Norberto Montani Martins

Marc Adam

Thomas Wilken

Serge Herbillon-Leprince

Marco Giraudo

Nicoló Bandera

Anika Muzib Suchi

Ian Buckley

Luis Reyes

Antonio Grillo Neto

Roswitha Trappe

Mariusz Kapuściński

Piotr Panko

Xiaotian Wang

Hanna Karolina Szymborska

Lea Steininger

Iván Weigandi

Éva Kulik

Pierre Ortlieb

Paul Beckta

Ana Isabel Sá

Jules Linden

Emanuele Citera

Juan-Pedro Castro

Christophe Diederen

Julian Jurgenmeyer

Fabian Pape

Celine Tcheng

Tobias Pforr

Mathis Richtmann

Héctor Labat

Florian Kern

Charles Bartlett

Thomas Rabensteiner

Hannah Hägele

Jean Grosdidier

Mohamed Bakoush

Cecilia Rikap

Nuoya Chen

Devika Dutt

Elizabeth Asenova

Xuan Wang

Will van der Lande

Jens van 't Klooster

Steffen Murau

Vibhu Gangal

Mehmet Ulug

Danka Luca

David Balass

Giacomo Rella

Arturo Benjamin Chian Nunez

Chun Him Cheung

Ayo Aladesanmi

Jackie Wang

Arnav Kapur

Ömer Tuğsal Doruk

Mariana Reis Maria

J.Christopher Proctor

ASHISH GOSAIN

Demaytri Narashita

Christine Galunan

renzo marcos

Eleni Schirmer