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Bernard McSherry

Overcertification and the NYCHA’s Clamor for a NYSE Clearinghouse

Quarterly Journal of Austrian Economics

Author: Bernard McSherry Berry K. Wilson

Online Publish Date: July 30, 2014

Category: Financial Markets

Volume 16, No. 1 (Spring 2013) ABSTRACT : Bank clearinghouse associations provided critical emergency services to their member banks during times of crisis. However, these associations, and the New York City Bank Clearinghouse Association (NYCHA) in particular, also provided critical intra-day liquidity to the security settlement process of

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