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Will The Fed Get Their Soft Landing? | Weekly Round Up
Forward Guidance
The Fed's Role in the Euro Dollar System
NB wanted to use the collateral that it had over in its London branch. They wanted the Fed to lend against that basically opened the discount window to lend against and sort of indirectly shore up this euro dollar system. That was a precedent that stood through many other sort of when it when a US owned bank has a foreign branchsort of that operates in the euro dollar system and they got in trouble. The Fed would also help them out. I think continental Illinois in 1984 is an example of that. But only recently with a failure of Silicon Valley bank that had a was the branch.
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