After the Accord A History of Federal Reserve Open Market Operations, the US Government Securities Market, and Treasury Debt Management from 1951 to 1979
Book contents
- After the Accord
- Studies in Macroeconomic History
- After the Accord
- Copyright page
- Dedication
- Contents
- Charts
- Tables
- Boxes
- Foreword
- Acknowledgments
- Treasury Officials
- Federal Reserve Officials
- The Many Varieties of Dealer
- 1 Introduction
- Part I The System and the Market in the 1940s
- Part II The Accord and Its Aftermath
- Part III The New Regime
- Part IV Summer 1958 and Its Consequences
- Part V The End of Bills Preferably
- Part VI The 1960s
- Part VII Updating Market Infrastructures
- Contents
- 23 The Association of Primary Dealers
- 24 Dealer Finance
- 25 The Government Securities Clearing Arrangement
- 26 Securities Lending
- 27 The Book-Entry System, Part I
- Part VIII The 1970s
- Part IX Infrastructure in the 1970s
- References
- Index
25 - The Government Securities Clearing Arrangement
from Part VII - Updating Market Infrastructures
Published online by Cambridge University Press: 14 January 2021
Book contents
- After the Accord
- Studies in Macroeconomic History
- After the Accord
- Copyright page
- Dedication
- Contents
- Charts
- Tables
- Boxes
- Foreword
- Acknowledgments
- Treasury Officials
- Federal Reserve Officials
- The Many Varieties of Dealer
- 1 Introduction
- Part I The System and the Market in the 1940s
- Part II The Accord and Its Aftermath
- Part III The New Regime
- Part IV Summer 1958 and Its Consequences
- Part V The End of Bills Preferably
- Part VI The 1960s
- Part VII Updating Market Infrastructures
- Contents
- 23 The Association of Primary Dealers
- 24 Dealer Finance
- 25 The Government Securities Clearing Arrangement
- 26 Securities Lending
- 27 The Book-Entry System, Part I
- Part VIII The 1970s
- Part IX Infrastructure in the 1970s
- References
- Index
Summary
Describes efforts of the Federal Reserve Bank of New York to reduce operating costs and enhance liquidity in the market for Treasury securities. A forerunner to the book-entry system, the Government Securities Clearing Arrangement provided for intraday netting of receipts and deliveries of Treasury securities by the major New York clearing banks.
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- After the AccordA History of Federal Reserve Open Market Operations, the US Government Securities Market, and Treasury Debt Management from 1951 to 1979, pp. 387 - 399Publisher: Cambridge University PressPrint publication year: 2021