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Full-Text Articles in Finance and Financial Management
Lessons Learned: William Nelson, Sandra Ward
Lessons Learned: William Nelson, Sandra Ward
Journal of Financial Crises
William Nelson was deputy director, Division of Monetary Affairs, at the Federal Reserve Board during the Global Financial Crisis of 2007–09 (GFC). As the nation’s central bank, chief financial regulator, and lender of last resort, the Federal Reserve Board took the lead in setting monetary policy and stabilizing the financial system during the crisis.
Nelson’s responsibilities at the Fed during the crisis included analysis of monetary policy and discount window policy as well as financial institution supervision, and he regularly briefed the board and the Federal Open Market Committee. He developed special expertise in designing liquidity facilities and was a …
Comment Letters May Have Helped Shape Federal Reserve’S Municipal Liquidity Facility (Mlf) And Main Street Lending Program (Mslp), Steven Kelly
Journal of Financial Crises
YPFS Archive Notes highlight noteworthy content or additions to the YPFS Resource Library.
In support of the YPFS efforts to archive primary and secondary materials that shed light on financial crises, this YPFS Archive Note highlights the addition of public comment letters solicited by the Federal Reserve to evaluate two of its proposed emergency lending facilities, the Municipal Liquidity Facility (MLF) and the Main Street Lending Program (MSLP) designed to help the US economy endure the financial stresses caused by the coronavirus pandemic. The released correspondence reflects a wide array of congressional and stakeholder concerns. Ultimately, the Fed incorporated …