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Diane Publishing Books
Why the U.S. Treasury Began Auctioning Treasury Bills in 1929: A Reprint from the “Economic Policy Review”
Kenneth D. Garbade (au)
Explains that the Treasury began auctioning bills to mitigate flaws in the structure of its financing operations that had become apparent during the 1920s. The flaws included the underpricing of new issues to limit the risk of a failed offering; borrowing in advance of actual requirements, resulting in negative carry on Treasury cash balances at commercial banks; and the redemption of maturing issues in advance of tax receipts, resulting in short-term borrowings from Federal Reserve Banks that sometimes led to transient fluctuations in reserves available to the banking system and undesirable volatility in overnight interest rates. Tables and graphs.
Mammoth Book of Cats: A Collection of Stories, Verse & Prose
History of the New York Central System
My Father, My Self: Understanding Dad’s Influence on Your Life
Calendars & Constellations of the Ancient World
Japanese Experience: A Short History of Japan
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