Fed Plumbing

An insight into the daily life of bankers’ balances (reserves), the payments system and clearing; stuff that is typically skated over in the textbooks. Particularly useful is the discussion of how QE and the subsequent deluge of liquidity has impacted Fedwire activity….
Turnover in Fedwire Funds Has Dropped Considerably since the Crisis, but It’s Okay, Liberty Street Economics, FRB New York, 25 Aug 2014
Liquidity and IOR, The Grumpy Economist, 28 Aug 2014