Full text of Statements and Speeches of Lorie K. Logan : The Federal Reserve's Recent Actions to Support the Flow of Credit to Households and Businesses : Remarks before the Foreign Exchange Committee, Federal Reserve Bank of New York : Figures

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Figure 1: Secured Overnight Financing Rate

Percent

Fed Funds Target Range

99th Percentile

75th Percentile

Median

2.25

1.75

1.25

0.75

0.25

-0.25
01/02/20

01/16/20

01/30/20

02/13/20

02/27/20

03/12/20

03/26/20

Source: Federal Reserve Bank of New York

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Figure 2: Three-Month Japanese Yen-U.S. Dollar
FX-Swap Implied Basis
BPS
300
Relative cost of borrowing USD via swaps

250

200

150

100

50

0
01/02/20

01/16/20

01/30/20

02/13/20

02/27/20

03/12/20

03/26/20

04/09/20

Note: Based off of OIS.
Source: Bloomberg Finance L.P.

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Figure 3: Treasury Bid-Ask Spreads
Indexed
1400

1200

1000

800

600

400

200

0
01/02/20

01/16/20

01/30/20

02/13/20

02/27/20

03/12/20

03/26/20

04/09/20

Note: Average Bid-Ask Spreads indexed to 100 as of 01/02/2020.
Source: Bloomberg Finance L.P.

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Figure 4: Investment-Grade Credit Spreads

BPS

400
350
300
250
200
150
100
50
0
01/02/20

01/16/20

01/30/20

02/13/20

02/27/20

03/12/20

03/26/20

04/09/20

Source: Bloomberg Finance L.P.

1