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Zoltán Pozsár: Financial stability in the age of Covid-19
YSI COVID-19 Webinar Series
Start time:
April 23, 2020 @ 3:30 pm - 5:00 pm
EDT
Location:
Online
Type:
Other
Speakers
Zoltán Pozsár
Managing Directo
Description
Money is hierarchical and during crises, rules are flexible at the core and rigid at the periphery. In this crisis, the penalty rate part of Bagehot’s rule was replaced with “friendly” rates for the core – with Covid-19 there is no moral hazard in lending to the core of the system at low rates. (…) the net impact of this rule will be that primary dealers will be able to run “limitless Treasury inventories”, which, if need be, will be financed via repos by the Fed. In that sense, the Board of Governors of the Fed is “drafting” the dealer community to take part in the war effort – by financing the war on Covid-19. Paraphrasing Churchill: “we give you the balance sheet, and you’ll finish the job”
*PLEASE ACCESS THE RECORDING HERE. *
If you click 'listen' on the panel on right, you'll be able to listen to the Q&A.
Hosted by Working Group(s):
Organizers
Attendees
Audra Aucoin
Josselin Roman
Adrien d'Avernas
Gregor Šergan
Quentin Vandeweyer
Arjan Reurink
Signe Persdotter
Rabee Rajoub
Jay Pocklington
Nurlan Jahangirli
Yeasin Mohammad Amin
Christoph Becker
Charles Coste
BH Bang
Gaurav Gandhi
Peter Holtzer
Asgeir B. Torfason
Charles Wan
Justin Guo
Chijioke J. Evoh
Michal Mozdzen
farhad gohardani
giuseppe simone
Maria Caecilia Schweinberger
Cem Gultekin
Jonah Wolf
Binqi Liu
Ieva Miknevičiūtė
Mohamed Lehbib
Nick Jackson
Remedios Lomax
Ilja Viktorov
Peter Szilagyi
Christopher Pomwene Shafuda
Desislava Valkova
Rudy Bouguelli
Fernanda Feil
Jorim Gerrard
Maria Cecilia del Barrio Arleo
Christina Mosalagae
Ruxandra Pavelchievici
sheen zutshi
Stefano Merlo
Ted Klassen
Nathalie Marins
Frederik Vitting Hermann
Abdelrahiem Khalifa
Michael Rendon
Stephanie Dossou
Étienne Desfossés
Germán Vargas
John S Qin
Emilia Buccella
Francesca T. C. Manning
Ozer Karakayaci
Christian Arnd
Florenz Volkaert
Thijs Kieboom
Vroni Lemeire
Anushree Kini
Henry Greenfield
William Machi
Nemeth Katinka
Míriam Oliveira
Balázs Scher
Luisa Scarcella
Michael Obaga
Serhat Konuk
Martin Schmidt
Claire Novak
Matthew Bone
Dario Laudati
Bayu Perdana Putra
Joe Hagerty
Kesia Braga
Cristiano Duarte
Joel C.
Anahita Hosseini
Tünde Katalin Szántó
Joel Rabinovich
Rafael Lima Sakr
Natasha Kunesch
Pavel Porozov
anne loescher
Zsofia Zador
Thomas Vass
Adam Jackson
Kashish Aggarwal
Christian Metzler
Norberto Montani Martins
Marc Adam
Thomas Wilken
Serge Herbillon-Leprince
Marco Giraudo
Nicoló Bandera
Anika Muzib Suchi
Ian Buckley
Luis Reyes
Antonio Grillo Neto
Roswitha Trappe
Mariusz Kapuściński
Piotr Panko
Xiaotian Wang
Hanna Karolina Szymborska
Lea Steininger
Iván Weigandi
Éva Kulik
Pierre Ortlieb
Paul Beckta
Ana Isabel Sá
Jules Linden
Emanuele Citera
Juan-Pedro Castro
Christophe Diederen
Julian Jurgenmeyer
Fabian Pape
Celine Tcheng
Tobias Pforr
Mathis Richtmann
Héctor Labat
Florian Kern
Charles Bartlett
Thomas Rabensteiner
Hannah Hägele
Jean Grosdidier
Mohamed Bakoush
Cecilia Rikap
Nuoya Chen
Devika Dutt
Elizabeth Asenova
Xuan Wang
Will van der Lande
Jens van 't Klooster
Steffen Murau
Vibhu Gangal
Mehmet Ulug
Danka Luca
David Balass
Giacomo Rella
Arturo Benjamin Chian Nunez
Chun Him Cheung
Ayo Aladesanmi
Jackie Wang
Arnav Kapur
Ömer Tuğsal Doruk
Mariana Reis Maria
J.Christopher Proctor
ASHISH GOSAIN
Demaytri Narashita
Christine Galunan
renzo marcos
Eleni Schirmer
Aleksandar Stojanović
Gerhardt "Kiko" Kalterherberg
Ádám Kerényi
Rasheed Saleuddin
Chiara Benvenuto
Kefei Wu
Andrew Medeiros
Sachin Sharma
Nguyen Thi Thu Ha
Zain Siddiqui
Agustin Pedrazzoli
Firdous Ahmad Malik
Paul Nelson
Dhruv SHARMA
RITIKA PATHAK
Pritika Dua
Rohan Chinchwadkar
Gabriel Nicholson
John O'Brien
Daniel von Ahlen
Tom Saville
Aneesha Chitgupi
Imad Archid
Ajibola Akanji
Bo Jiang