Article2009

US dollar money market funds and non-US banks

Naohiko Baba · Robert Neil McCauley · Srichander Ramaswamy

135 citations0/0 files storedRePEc: Research Papers in Economics

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Banking stability, regulation, efficiency Global Financial Crisis and Policies Global Financial Regulation and Crises

Abstract

The Lehman Brothers failure stressed global interbank and foreign exchange markets because it led to a run on money market funds, the largest suppliers of dollar funding to non-US banks. Policy stopped the run and replaced private with public funding.

Citations in this library

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References

2009The US dollar shortage in global banking

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