11: Banks and the Market for Liquidity

Lecture PDF

Lec 11-1: FT: Money Market Mutual Funds

FT article link

Lec 11-2: Banks as money dealers, a puzzle

Lec 11-3: Security dealers as money dealers, matched and speculative book

Lec 11-4: Adapting Treynor to liquidity risk

Lec 11-5: Digression: Evolution of American banking

Lec 11-6: The Fed in the Fed Funds market

Lec 11-7: Return to the initial puzzle