Board of Governors of the Federal Reserve System

compared with the behavior in the earlier years of transaction deposit...Compared with the extent of interest rate declines this year, the drop

The views expressed are those of the authors and do not reflect the official...key insight is that a small surplus from an employment match amplifies

compares favorably with both market-based and model-based alternative ...2For example, inter-bank interest rates initially rose at the beginning

key comments that strongly improved our paper. For helpful comments on...3The focus of their paper is to uncover reallocation dynamics across firms

2The BPP method, and those closely related to it, has become a standard...the estimate in BPP�to 0.25 when the time aggregated nature of the PSID

compares high-quality capital to risk-weighted assets--of the 33 bank ...for, our stress testing and CCAR exercises. As you can imagine, we received

key factor in banks’ operations. In the wake of the financial crisis, ...compare banks’ actual portfolio choices to these benchmarks. We find that

OF"THE • MAR 3 1970 ri ~ FEDERAL RESERVE SYSTEM Office Correspondence ...and, therefore, it was better to accept much higher unemployment in order

11A—Pricing of Services SECTION 11B—Annual Independent Audits of Federal...THE ANALYSIS OF REGULATORY FUNCTIONS SECTION 601—Definitions SECTION 602

for- profit and not-for-profit enterprises and federal, state, and local...Key Findings • The number of core noncash payments, comprising debit card