Federal Reserve : The road to independence

Federal Reserve System - History ; Federal Reserve System - Independence

President's perspective

Federal Reserve banks - Presidents ; Federal Reserve System

Federal Reserve: A division of power

Federal Reserve System - History ; Federal Reserve District, 5th

The great discovery

Federal Reserve System - History ; Federal Reserve banks ; Credit control

Utilization of Federal Reserve bank services by member banks: implications for the costs and benefits of membership

Federal Reserve System - Membership ; Federal Reserve banks - Service charges

Federal Reserve : Ready to lend : the discount window's evolving role as a liquidity lifeline for depository institutions

Federal Reserve Bank of Richmond ; Discount window ; Federal Reserve System

Benjamin Strong, the Federal Reserve, and the limits to interwar American nationalism

Federal Reserve System ; Federal Reserve Bank of New York ; War finance ; International finance

The formative years

Federal Reserve System - History ; Federal Reserve System ; Federal Reserve Act

Overview

Overview of Special Issue: Federal Reserve Policy Responses to the Financial Crisis.Financial crises ; Federal Reserve System ; Bank liquidity

Origins of the Federal Reserve book-entry system

The conversion of U.S. Treasury securities from physical to book-entry form was a major event in the history of the Treasury market. The conversion, which began in 1966, resulted in an automated system that has greatly reduced market operating costs and risks. This article examines the origins and development of the Federal Reserve book-entry system for Treasury securities. It suggests that the system was the product of three important factors: the interest of the Federal Reserve Banks and the Treasury in lowering their operating costs and risks, the intention of the Reserve Banks and the Treasury to preserve the liquidity of the market, and the desire of the Reserve Banks to reduce member bank operating costs. Two critical incidents-a loss of securities at a Reserve Bank in 1962 and an "insurance crisis" in 1970-71-played major roles in the early development and subsequent expansion of the book-entry system.Treasury bonds ; Federal Reserve banks - Automation ; Government securities ; Federal Reserve banks - Costs