5: The Central Bank as a Clearinghouse

Lecture PDF

Lec 5-1: Martin Wolf on QE3

FT article link

Money View blog link

Lec 5-2: One Big Bank

Lec 5-3: Multiple Banks, a challenge

Lec 5-4: Reading: Charles F. Dunbar

Optional:  More Dunbar

Lec 5-5: Correspondent banking, bilateral balances

Source on bankers balances

Lec 5-6: Correspondent banking, system network

Lec 5-7: Clearinghouse, normal operations

Optional:  Clearinghouses

Lec 5-8: Clearinghouse, private lender of last resort

Optional:  Clearinghouse certificates

Lec 5-9: Central Bank Clearing

Lec 5-10: Central Bank Cooperation