Board of Governors of the Federal Reserve System

Finance and Economics Discussion Series Federal Reserve Board, Washington, D.C. ISSN 1936-2854 (Print) ISSN 2767-3898 (Online) Fed Communication

Finance and Economics Discussion Series Divisions of Research & Statistics and Monetary Affairs Federal Reserve Board, Washington, D.C. How have

debt has been held by nonbanks, which includes market-based funding by...debt securities but were funded with short-term commercial paper. Buyers

debt, while, at the same time, the disruptions to economic activity have...debt and sustain themselves until economic conditions normalize. These

net present value return from the sale or disposition of its assets, and

S u m m ar y 1 Z .1 , S ep te m be r 18 , 2 01 5 F lo w o f F un ds M at ri x fo r 20 14 (B ill io ns o f do lla rs ; A ll Se ct or s -- F lo

debt, does not exceed four times the Eligible Borrower’s 2019 earnings...debt of equal or lower priority, with the exception of mandatory principal

Debt ....................................................................debt and MBS, targeted lending, and communication strategies. The remainder

debt, agency mortgage-backed securities (MBS), and Treasury securities...debt. Second, asset prices rise, which boosts consumption through the

SEP: Compilation and Summary of Individual Economic Projections December 17–18, 2013 Table 1. Economic projections of Federal Reserve Board members