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9033 Results

May 30, 2024

Speech: The Payments Canada SUMMIT

The ongoing evolution of payments in Canada—Executive Director, Ron Morrow speaks at The Payments Canada SUMMIT (11:10 (ET) approx.).

Financial Intermediation and Fire Sales with Liquidity Risk Pricing

Staff Working Paper 2024-18 Yuteng Cheng, Roberto Robatto
We provide a theory of fire sales in which potential buyers are subject to liquidity shocks and frictions that limit their ability to resell assets. Viewed through the lens of the model, the liquidity requirements proposed by the U. S. Securities and Exchange Commission for these intermediaries could hurt the economy.
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