After the Accord A History of Federal Reserve Open Market Operations, the US Government Securities Market, and Treasury Debt Management from 1951 to 1979
Book contents
- After the Accord
- Studies in Macroeconomic History
- After the Accord
- Copyright page
- Dedication
- Contents
- Charts
- Tables
- Boxes
- Foreword
- Acknowledgments
- Treasury Officials
- Federal Reserve Officials
- The Many Varieties of Dealer
- 1 Introduction
- Part I The System and the Market in the 1940s
- Part II The Accord and Its Aftermath
- Part III The New Regime
- Part IV Summer 1958 and Its Consequences
- Part V The End of Bills Preferably
- Part VI The 1960s
- Part VII Updating Market Infrastructures
- Contents
- 23 The Association of Primary Dealers
- 24 Dealer Finance
- 25 The Government Securities Clearing Arrangement
- 26 Securities Lending
- 27 The Book-Entry System, Part I
- Part VIII The 1970s
- Part IX Infrastructure in the 1970s
- References
- Index
27 - The Book-Entry System, Part I
from Part VII - Updating Market Infrastructures
Published online by Cambridge University Press: 14 January 2021
Book contents
- After the Accord
- Studies in Macroeconomic History
- After the Accord
- Copyright page
- Dedication
- Contents
- Charts
- Tables
- Boxes
- Foreword
- Acknowledgments
- Treasury Officials
- Federal Reserve Officials
- The Many Varieties of Dealer
- 1 Introduction
- Part I The System and the Market in the 1940s
- Part II The Accord and Its Aftermath
- Part III The New Regime
- Part IV Summer 1958 and Its Consequences
- Part V The End of Bills Preferably
- Part VI The 1960s
- Part VII Updating Market Infrastructures
- Contents
- 23 The Association of Primary Dealers
- 24 Dealer Finance
- 25 The Government Securities Clearing Arrangement
- 26 Securities Lending
- 27 The Book-Entry System, Part I
- Part VIII The 1970s
- Part IX Infrastructure in the 1970s
- References
- Index
Summary
Following a 1963 loss of Treasury securities held by a Federal Reserve Bank acting as custodian for a member bank, staff of the Board of Governors and the twelve district Reserve Banks undertook to replace paper securities held at a Reserve Bank with book-entry records. The program was largely complete by the end of 1970 and provided the foundation for the subsequent expansion of the book-entry system to include Treasury securities held by member banks.
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- After the AccordA History of Federal Reserve Open Market Operations, the US Government Securities Market, and Treasury Debt Management from 1951 to 1979, pp. 413 - 422Publisher: Cambridge University PressPrint publication year: 2021