{"id":"https://openalex.org/W7127053405","doi":"https://doi.org/10.17016/2380-7172.3969","title":"Bankers\u2019 Banks and their Role in the Federal Funds Market","display_name":"Bankers\u2019 Banks and their Role in the Federal Funds Market","publication_year":2026,"publication_date":"2026-01-01","ids":{"openalex":"https://openalex.org/W7127053405","doi":"https://doi.org/10.17016/2380-7172.3969"},"language":"en","primary_location":{"id":"doi:10.17016/2380-7172.3969","doi":"https://doi.org/10.17016/2380-7172.3969","is_oa":true,"landing_page_url":"https://doi.org/10.17016/2380-7172.3969","pdf_url":null,"source":{"id":"https://openalex.org/S4210225578","display_name":"FEDS Notes","issn_l":"2380-7172","issn":["2380-7172"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"public-domain","license_id":"https://openalex.org/licenses/public-domain","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"FEDS Notes","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://doi.org/10.17016/2380-7172.3969","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5010601978","display_name":"Sriya Anbil","orcid":"https://orcid.org/0000-0002-0252-6909","observed_orcids":["https://orcid.org/0000-0002-0252-6909"]},"institutions":[{"id":"https://openalex.org/I1317239608","display_name":"Federal Reserve","ror":"https://ror.org/05fk5tr28","country_code":"US","type":"other","lineage":["https://openalex.org/I1317239608"]},{"id":"https://openalex.org/I2802905149","display_name":"Federal Reserve Board of Governors","ror":"https://ror.org/00v448643","country_code":"US","type":"government","lineage":["https://openalex.org/I1317239608","https://openalex.org/I2802905149"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Sriya Anbil","raw_affiliation_strings":["Board of Governors of the Federal Reserve System (U.S.)"],"raw_orcid":"https://orcid.org/0000-0002-0252-6909","affiliations":[{"raw_affiliation_string":"Board of Governors of the Federal Reserve System (U.S.)","institution_ids":["https://openalex.org/I1317239608","https://openalex.org/I2802905149"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5084415420","display_name":"Alyssa G. Anderson","orcid":"https://orcid.org/0009-0004-7342-7942","observed_orcids":["https://orcid.org/0009-0004-7342-7942","https://orcid.org/0000-0002-1501-2237"]},"institutions":[{"id":"https://openalex.org/I1317239608","display_name":"Federal Reserve","ror":"https://ror.org/05fk5tr28","country_code":"US","type":"other","lineage":["https://openalex.org/I1317239608"]},{"id":"https://openalex.org/I2802905149","display_name":"Federal Reserve Board of Governors","ror":"https://ror.org/00v448643","country_code":"US","type":"government","lineage":["https://openalex.org/I1317239608","https://openalex.org/I2802905149"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Alyssa G. Anderson","raw_affiliation_strings":["Board of Governors of the Federal Reserve System (U.S.)"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Board of Governors of the Federal Reserve System (U.S.)","institution_ids":["https://openalex.org/I1317239608","https://openalex.org/I2802905149"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5124696145","display_name":"Benjamin Eyal","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I1317239608","display_name":"Federal Reserve","ror":"https://ror.org/05fk5tr28","country_code":"US","type":"other","lineage":["https://openalex.org/I1317239608"]},{"id":"https://openalex.org/I2802905149","display_name":"Federal Reserve Board of Governors","ror":"https://ror.org/00v448643","country_code":"US","type":"government","lineage":["https://openalex.org/I1317239608","https://openalex.org/I2802905149"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Benjamin Eyal","raw_affiliation_strings":["Board of Governors of the Federal Reserve System (U.S.)"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Board of Governors of the Federal Reserve System (U.S.)","institution_ids":["https://openalex.org/I1317239608","https://openalex.org/I2802905149"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":false,"cited_by_count":0,"citation_normalized_percentile":{"value":0.04389621,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":"2026-01-30-1","first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.5023999810218811,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.5023999810218811,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.47850000858306885,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.004000000189989805,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/federal-funds-market","display_name":"federal funds market","score":0.9639999866485596},{"id":"https://openalex.org/keywords/open-market-operations","display_name":"open market operations","score":0.7049999833106995},{"id":"https://openalex.org/keywords/quantitative-easing","display_name":"quantitative easing","score":0.7459999918937683},{"id":"https://openalex.org/keywords/2008-financial-crisis","display_name":"2008 financial crisis","score":0.8209999799728394},{"id":"https://openalex.org/keywords/federal-reserve-monetary-policy","display_name":"Federal Reserve monetary policy","score":0.8339999914169312},{"id":"https://openalex.org/keywords/federal-funds-rate","display_name":"federal funds rate","score":0.7120000123977661},{"id":"https://openalex.org/keywords/central-bank-liquidity-provision","display_name":"central bank liquidity provision","score":0.42899999022483826}],"concepts":[{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6933000087738037},{"id":"https://openalex.org/C2778333325","wikidata":"https://www.wikidata.org/wiki/Q2012704","display_name":"Federal funds","level":3,"score":0.6373999714851379},{"id":"https://openalex.org/C189722922","wikidata":"https://www.wikidata.org/wiki/Q667481","display_name":"Open market operation","level":3,"score":0.6017000079154968},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.5647000074386597},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.5404999852180481},{"id":"https://openalex.org/C42628150","wikidata":"https://www.wikidata.org/wiki/Q169357","display_name":"Repurchase agreement","level":3,"score":0.525600016117096},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.45719999074935913},{"id":"https://openalex.org/C76178495","wikidata":"https://www.wikidata.org/wiki/Q4808784","display_name":"Asset (computer security)","level":2,"score":0.45320001244544983},{"id":"https://openalex.org/C174106034","wikidata":"https://www.wikidata.org/wiki/Q2659777","display_name":"Interbank lending market","level":3,"score":0.44110000133514404},{"id":"https://openalex.org/C2778300220","wikidata":"https://www.wikidata.org/wiki/Q114380","display_name":"Financial crisis","level":2,"score":0.39969998598098755},{"id":"https://openalex.org/C43089589","wikidata":"https://www.wikidata.org/wiki/Q5570807","display_name":"Global assets under management","level":4,"score":0.3783999979496002},{"id":"https://openalex.org/C57031852","wikidata":"https://www.wikidata.org/wiki/Q5419533","display_name":"Excess reserves","level":5,"score":0.3662000000476837},{"id":"https://openalex.org/C29185160","wikidata":"https://www.wikidata.org/wiki/Q874727","display_name":"Quantitative easing","level":4,"score":0.3440000116825104},{"id":"https://openalex.org/C2778137410","wikidata":"https://www.wikidata.org/wiki/Q2732820","display_name":"Government (linguistics)","level":2,"score":0.30329999327659607},{"id":"https://openalex.org/C23952128","wikidata":"https://www.wikidata.org/wiki/Q627543","display_name":"Money market","level":3,"score":0.2948000133037567},{"id":"https://openalex.org/C105639569","wikidata":"https://www.wikidata.org/wiki/Q582577","display_name":"Economic policy","level":1,"score":0.2806999981403351},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.27709999680519104},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.2581000030040741}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.17016/2380-7172.3969","doi":"https://doi.org/10.17016/2380-7172.3969","is_oa":true,"landing_page_url":"https://doi.org/10.17016/2380-7172.3969","pdf_url":null,"source":{"id":"https://openalex.org/S4210225578","display_name":"FEDS Notes","issn_l":"2380-7172","issn":["2380-7172"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"public-domain","license_id":"https://openalex.org/licenses/public-domain","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"FEDS Notes","raw_type":"journal-article"}],"best_oa_location":{"id":"doi:10.17016/2380-7172.3969","doi":"https://doi.org/10.17016/2380-7172.3969","is_oa":true,"landing_page_url":"https://doi.org/10.17016/2380-7172.3969","pdf_url":null,"source":{"id":"https://openalex.org/S4210225578","display_name":"FEDS Notes","issn_l":"2380-7172","issn":["2380-7172"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"public-domain","license_id":"https://openalex.org/licenses/public-domain","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"FEDS Notes","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W3122897118","https://openalex.org/W7112579760","https://openalex.org/W3033958221","https://openalex.org/W2605582873","https://openalex.org/W3197180705","https://openalex.org/W4251737315","https://openalex.org/W7095114186","https://openalex.org/W3036861264","https://openalex.org/W2614405454","https://openalex.org/W2499616784"],"abstract_inverted_index":{"The":[0],"Global":[1],"Financial":[2],"Crisis":[3],"(GFC)":[4],"and":[5],"the":[6,15,23,31],"Federal":[7],"Reserve's":[8],"(Fed)":[9],"large-scale":[10],"asset":[11],"purchases":[12],"fundamentally":[13],"reshaped":[14],"U.S.":[16],"monetary":[17],"policy":[18],"implementation":[19],"framework.":[20],"Before":[21],"2008,":[22],"Fed":[24],"operated":[25],"under":[26],"a":[27],"scarce-reserves":[28],"regime,":[29],"steering":[30],"federal":[32],"funds":[33],"rate":[34],"through":[35],"daily":[36],"open":[37],"market":[38],"operations.":[39]},"counts_by_year":[],"updated_date":"2026-10-28T10:33:24.094632","created_date":"2026-02-03T00:00:00"}