000 02369cam a22003258i 4500
001 21566274
003 OSt
005 20220919112810.0
008 200616s2020 enk b 001 0 eng
010 _a 2020022765
020 _a9781108839891
040 _aDLC
_beng
_cLibrary of Congress
082 0 0 _a332.1
_223
100 1 _aGarbade, Kenneth D.,
_eauthor.
245 1 0 _aAfter the accord :
_ba history of Federal Reserve open market operations, the US government securities market, and Treasury debt management from 1951 to 1979 /
_cKenneth D. Garbade, Federal Reserve Bank of New York.
263 _a2011
264 1 _aCambridge, United Kingdom ;
_aNew York, NY :
_bCambridge University Press,
_c2020.
300 _axxxii, 569 pages :
_billustrations ;
_c24 cm.
336 _atext
_btxt
_2rdacontent
504 _aIncludes bibliographical references and index.
520 _a"Describes how the Fed and the Treasury fashioned the instruments, facilities, and procedures needed to advance their respective policy objectives in the context of a free market for Treasury debt following the end of World War II. Describes how open market operations evolved from little more than buying whatever securities were offered at yields above prescribed wartime ceilings to the dynamic management of bank reserves and money market conditions. Also descirbes how Treasury debt management evolved from selling coupon-bearing securities in fixed-price subscription offerings to regular and predictable auction offerings. Finally, describes how the Fed came to take a leading role in mapping out the evolution of Treasury market infrastructures, including book-entry securities, securities lending, and secondary market governance"--
_cProvided by publisher.
610 1 0 _aUnited States.
_bFederal Reserve Board.
610 1 0 _aUnited States.
_bDepartment of the Treasury.
650 0 _aOpen market operations
_zUnited States
_xHistory
_y20th century.
650 0 _aMonetary policy
_zUnited States
_xHistory
_y20th century.
650 0 _aFinance
_xGovernment policy
_zUnited States
_xHistory
_y20th century.
650 0 _aGovernment securities
_zUnited States
_xHistory
_y20th century.
776 0 8 _iOnline version:
_aGarbade, Kenneth D.
_tAfter the accord
_dCambridge, United Kingdom ; New York, NY : Cambridge University Press, 2020.
_z9781108885386
_w(DLC) 2020022766
942 _2ddc
_cBK
999 _c5802
_d5802