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Description

This poster examines the impact of the Federal Reserve's unconventional monetary policy actions in response to the Great Recession, and specifically how Large-Scale Asset Purchases (LSAPs) affected bank lending behavior from 2009-2012. Ultimately, I find that the purchasing of Treasury Securities along with MBS (Mortgage-Backed Securities) significantly and positively impacts bank lending, largely through the channel of portfolio rebalancing and increased leverage.

Publication Date

3-11-2021

Keywords

macroeconomics, monetary policy, liquidity trap, quantitative easing, banking

Examining the impact of the US Federal Reserve's Quantitative easing on Bank Lending, 2009-2012

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