{
    "name": [
        {
            "role": "creator",
            "namePart": [
                "Ennis, Huberto M."
            ],
            "recordInfo": {
                "recordIdentifier": [
                    "4214"
                ]
            }
        },
        {
            "role": "creator",
            "namePart": [
                "Klee, Elizabeth C."
            ],
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                    "6543"
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        }
    ],
    "genre": [
        "article"
    ],
    "abstract": [
        "<p>\ufeffWe study new transaction-level data of bank borrowings at the U.S. Federal Reserve discount window from 2010 to 2019. We merged this data with quarterly information about banks' balance sheets and income statements. To aid in the interpretation of our empirical analysis, we also develop a detailed model of the decision of banks to borrow from various sources, including the discount window. The objective is to contribute to a better understanding of the reasons why banks use the discount window during periods of relative calm in financial markets. We find that borrowing from the discount window is tightly linked to basic bank characteristics\u2014such as size and location\u2014and to the composition of banks' balance sheets. Most importantly, banks holding less reserves tend to borrow more often (and more) from the discount window. Similarly, banks with less liquid and riskier asset portfolios, and less market-pledgeable collateral, are also more likely to borrow from the Fed's discount window.\ufeff<\/p>"
    ],
    "language": [
        "eng"
    ],
    "titleInfo": [
        {
            "title": "The Fed's Discount Window in \"Normal\" Times",
            "titlePartNumber": "Working Paper 21-01R"
        }
    ],
    "identifier": [
        {
            "$": "https:\/\/doi.org\/10.21144\/wp21-01",
            "@type": "doi"
        }
    ],
    "originInfo": {
        "issuance": "multipart",
        "sortDate": "2021-01-13",
        "dateIssued": "January 13, 2021, revised June 16, 2023"
    },
    "recordInfo": {
        "recordIdentifier": [
            "598780"
        ],
        "recordUpdatedDate": "2026-02-25 13:37:38",
        "recordCreationDate": "2021-01-15 15:30:51",
        "recordType": "item"
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    "classification": [
        {
            "$": "E52, E58, G28",
            "@authority": "jel"
        }
    ],
    "typeOfResource": "text",
    "physicalDescription": {
        "form": "electronic",
        "extent": "73 pages",
        "digitalOrigin": "born digital",
        "internetMediaType": [
            "application\/pdf"
        ]
    },
    "location": {
        "url": [
            "https:\/\/fraser.stlouisfed.org\/title\/working-papers-federal-reserve-bank-richmond-3942\/feds-discount-window-normal-times-598780"
        ],
        "iiif_manifest_url": [
            "https:\/\/iiif.slf.digirati.io\/presentation\/item\/598780"
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        "pdfUrl": [
            "https:\/\/fraser.stlouisfed.org\/docs\/historical\/frbrich\/wp\/frbrich_wp21-01r.pdf"
        ],
        "textUrl": [
            "https:\/\/fraser.stlouisfed.org\/files\/text\/historical\/frbrich\/wp\/frbrich_wp21-01r.txt"
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    },
    "relatedItem": [
        {
            "@type": "parent",
            "recordInfo": {
                "recordIdentifier": [
                    "3942"
                ]
            },
            "titleInfo": [
                {
                    "title": "Working Papers (Federal Reserve Bank of Richmond)"
                }
            ],
            "name": [
                {
                    "role": "creator",
                    "namePart": [
                        "Federal Reserve Bank of Richmond"
                    ],
                    "recordInfo": {
                        "recordIdentifier": [
                            "521"
                        ]
                    }
                }
            ]
        }
    ],
    "accessCondition": "For more information on rights relating to this item, please see: https:\/\/fraser.stlouisfed.org\/title\/working-papers-federal-reserve-bank-richmond-3942\/feds-discount-window-normal-times-598780"
}