NY Fed’s Sack on central banks’ role as liquidity providers
Brian Sack, an executive vice president of the New York Federal Reserve, on Wednesday discussed the central bank's experience with the Term Asset-Backed Securities Loan Facility (Talf) and its role as a provider of liquidity following the extraordinary measures taken during the global financial crisis.
Sack said the recent financial market developments served as a reminder that the central bank's role as a liquidity provider can be critical during periods of financial stress.
He discussed the
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