Document Type
Note
Abstract
This article picks up from an earlier Journal of Financial Crisis policy note on discount window design to see how the experiences of other central banks can inform work to redesign the discount window to reduce stigma. As explained in that article, banks’ reluctance to use the discount window is problematic for financial stability as it constrains the Fed’s ability to use its liquidity provision tools to stem runs and mitigate contagion in times of stress. The stigma associated with discount window borrowing in the United States is well documented and is a multifaceted phenomenon.
Recommended Citation
McLaughlin, Susan
(2025)
"Eliminating Discount Window Stigma: What Can We Learn from Abroad?,"
Journal of Financial Crises: Vol. 7
:
Iss. 1, 690-706.
Available at:
https://elischolar.library.yale.edu/journal-of-financial-crises/vol7/iss1/27
Date Revised
2025-04-15
Included in
Banking and Finance Law Commons, Economic History Commons, Finance Commons, Finance and Financial Management Commons, Law and Economics Commons, Policy Design, Analysis, and Evaluation Commons, Public Administration Commons