The Economics of Money, Banking and Financial Markets (11th Edition) (The Pearson Series in Economics)
11th Edition
ISBN: 9780133836790
Author: Frederic S. Mishkin
Publisher: PEARSON
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Chapter 15, Problem 16Q
To determine
The reason why the term Auction Facility was more widely used by financial institutions than the discount window during the global financial crisis
Introduction:
A Term Auction Facility (TAF) is a
Discount window is a monetary policy instrument which allows commercial bank to borrow short term loans from central bank to fulfill the immediate needs.
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Demand and supply function
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The Economics of Money, Banking and Financial Markets (11th Edition) (The Pearson Series in Economics)
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