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1 USD = 1.5157 NZD

1 NZD to USD = 0.6598

Provider Indicative Rate Service Notes Action

Online Exclusive

Horizon Currency
1.5081 Online money transfers only. Strictly no holiday cash requests. Do-it-yourself transfers for easily the best exchange rate in the market.

International Money Transfers

Rational FX
1.5021 International Payments and Transfers Indicative Dealing Desk Quote. Rate can only be applied to transfers in excess of £2000 equivalent.

Cash Delivery / Holiday Money

Travel FX
1.5021 Holiday FX, Cash Delivery 0% Commission

Best Bank Rate

Banks
1.4733 Payments, transfers, holiday money Determined using data on spread charges supplied by IMTI Login to your online bank account

Worst Bank Rate

Banks
1.4627 Payments, transfers, holiday money Determined using data on spread charges supplied by Money Mover and Accourt Login to your online bank account

Airport Pickup

Moneycorp
1.4930 Holiday FX, Cash Delivery Booking Online prior to pickup is the key to getting a good rate

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USD/NZD Live Chart and Data

Exchange Rate History For Converting US Dollar (USD) to New Zealand Dollar (NZD)

2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012
Loading

Exchange Rate Today for Converting USD To NZD

Convert USD:
To NZD:
1
1.5157
10
15.1570
50
75.7850
100
151.5700
500
757.8500
1,000
1,515.7000
Convert USD:
To NZD:
2,500
3,789.2500
5,000
7,578.5000
7,500
11,367.7500
10,000
15,157.0000
50,000
75,785.0000
1,00,000
151,570.0000

Exchange Rate History for USD To NZD: 2018

January - 2018

SunMonTueWedThuFriSat
1

Open: 1.4075

Close: 1.4107

Mid: 1.4120

2

Open: 1.4105

Close: 1.4083

Mid: 1.4062

3

Open: 1.4086

Close: 1.4108

Mid: 1.4100

4

Open: 1.4110

Close: 1.3976

Mid: 1.4046

5

Open: 1.3976

Close: 1.3934

Mid: 1.3944

6

Open: 1.3976

Close: 1.3934

Mid: 1.3944

7

Open: 1.3946

Close: 1.3945

Mid: 1.3942

8

Open: 1.3943

Close: 1.3937

Mid: 1.3938

9

Open: 1.3940

Close: 1.3997

Mid: 1.3933

10

Open: 1.3994

Close: 1.3877

Mid: 1.3926

11

Open: 1.3873

Close: 1.3769

Mid: 1.3849

12

Open: 1.3769

Close: 1.3769

Mid: 1.3778

13

Open: 1.3778

Close: 1.3774

Mid: 1.3776

14

Open: 1.3774

Close: 1.3797

Mid: 1.3800

15

Open: 1.3796

Close: 1.3706

Mid: 1.3720

16

Open: 1.3705

Close: 1.3759

Mid: 1.3748

17

Open: 1.3761

Close: 1.3752

Mid: 1.3712

18

Open: 1.3748

Close: 1.3704

Mid: 1.3717

19

Open: 1.3707

Close: 1.3720

Mid: 1.3714

20
21

Open: 1.3722

Close: 1.3720

Mid: 1.3731

22

Open: 1.3723

Close: 1.3662

Mid: 1.3692

23

Open: 1.3662

Close: 1.3582

Mid: 1.3639

24

Open: 1.3585

Close: 1.3629

Mid: 1.3607

25

Open: 1.3625

Close: 1.3678

Mid: 1.3611

26

Open: 1.3675

Close: 1.3564

Mid: 1.3594

27

Open: 1.3675

Close: 1.3564

Mid: 1.3594

28

Open: 1.3590

Close: 1.3582

Mid: 1.3602

29

Open: 1.3582

Close: 1.3652

Mid: 1.3644

30

Open: 1.3653

Close: 1.3623

Mid: 1.3662

31

Open: 1.3626

Close: 1.3558

Mid: 1.3534

February - 2018

SunMonTueWedThuFriSat
1

Open: 1.3561

Close: 1.3516

Mid: 1.3588

2

Open: 1.3512

Close: 1.3689

Mid: 1.3620

3

Open: 1.3689

Close: 1.3689

Mid: 1.3689

4

Open: 1.3689

Close: 1.3733

Mid: 1.3727

5

Open: 1.3732

Close: 1.3763

Mid: 1.3720

6

Open: 1.3760

Close: 1.3640

Mid: 1.3722

7

Open: 1.3641

Close: 1.3838

Mid: 1.3725

8

Open: 1.3830

Close: 1.3839

Mid: 1.3845

9

Open: 1.3839

Close: 1.3786

Mid: 1.3829

10

Open: 1.3786

Close: 1.3786

Mid: 1.3786

11

Open: 1.3786

Close: 1.3799

Mid: 1.3793

12

Open: 1.3798

Close: 1.3765

Mid: 1.3796

13

Open: 1.3771

Close: 1.3731

Mid: 1.3717

14

Open: 1.3734

Close: 1.3560

Mid: 1.3672

15

Open: 1.3565

Close: 1.3517

Mid: 1.3528

16

Open: 1.3518

Close: 1.3530

Mid: 1.3513

17

Open: 1.3530

Close: 1.3530

Mid: 1.3530

18

Open: 1.3530

Close: 1.3537

Mid: 1.3547

19

Open: 1.3532

Close: 1.3583

Mid: 1.3556

20

Open: 1.3580

Close: 1.3620

Mid: 1.3600

21

Open: 1.3621

Close: 1.3663

Mid: 1.3618

22

Open: 1.3669

Close: 1.3658

Mid: 1.3633

23

Open: 1.3656

Close: 1.3712

Mid: 1.3705

24

Open: 1.3712

Close: 1.3713

Mid: 1.3713

25

Open: 1.3722

Close: 1.3738

Mid: 1.3714

26

Open: 1.3729

Close: 1.3713

Mid: 1.3666

27

Open: 1.3715

Close: 1.3823

Mid: 1.3765

28

Open: 1.3812

Close: 1.3875

Mid: 1.3859

March - 2018

SunMonTueWedThuFriSat
1

Open: 1.3874

Close: 1.3773

Mid: 1.3847

2

Open: 1.3770

Close: 1.3811

Mid: 1.3786

3

Open: 1.3811

Close: 1.3811

Mid: 1.3811

4

Open: 1.3811

Close: 1.3829

Mid: 1.3810

5

Open: 1.3826

Close: 1.3842

Mid: 1.3831

6

Open: 1.3842

Close: 1.3730

Mid: 1.3761

7

Open: 1.3730

Close: 1.3725

Mid: 1.3742

8

Open: 1.3720

Close: 1.3773

Mid: 1.3763

9

Open: 1.3772

Close: 1.3727

Mid: 1.3730

10

Open: 1.3772

Close: 1.3727

Mid: 1.3730

11

Open: 1.3714

Close: 1.3682

Mid: 1.3701

12

Open: 1.3682

Close: 1.3696

Mid: 1.3687

13

Open: 1.3700

Close: 1.3639

Mid: 1.3639

14

Open: 1.3642

Close: 1.3672

Mid: 1.3653

15

Open: 1.3674

Close: 1.3755

Mid: 1.3694

16

Open: 1.3755

Close: 1.3852

Mid: 1.3816

17

Open: 1.3755

Close: 1.3852

Mid: 1.3816

18

Open: 1.3851

Close: 1.3836

Mid: 1.3845

19

Open: 1.3835

Close: 1.3805

Mid: 1.3861

20

Open: 1.3809

Close: 1.3929

Mid: 1.3860

21

Open: 1.3928

Close: 1.3832

Mid: 1.3900

22

Open: 1.3831

Close: 1.3855

Mid: 1.3827

23

Open: 1.3856

Close: 1.3824

Mid: 1.3805

24

Open: 1.3825

Close: 1.3824

Mid: 1.3825

25

Open: 1.3824

Close: 1.3811

Mid: 1.3807

26

Open: 1.3820

Close: 1.3693

Mid: 1.3730

27

Open: 1.3698

Close: 1.3754

Mid: 1.3745

28

Open: 1.3755

Close: 1.3866

Mid: 1.3796

29

Open: 1.3867

Close: 1.3829

Mid: 1.3852

30

Open: 1.3835

Close: 1.3808

Mid: 1.3803

31

Open: 1.3808

Close: 1.3808

Mid: 1.3808

April - 2018

SunMonTueWedThuFriSat
1

Open: 1.3808

Close: 1.3823

Mid: 1.3812

2

Open: 1.3844

Close: 1.3880

Mid: 1.3846

3

Open: 1.3883

Close: 1.3769

Mid: 1.3821

4

Open: 1.3769

Close: 1.3663

Mid: 1.3742

5

Open: 1.3663

Close: 1.3770

Mid: 1.3721

6

Open: 1.3770

Close: 1.3760

Mid: 1.3771

7

Open: 1.3760

Close: 1.3760

Mid: 1.3760

8

Open: 1.3760

Close: 1.3748

Mid: 1.3739

9

Open: 1.3744

Close: 1.3685

Mid: 1.3702

10

Open: 1.3685

Close: 1.3567

Mid: 1.3620

11

Open: 1.3564

Close: 1.3571

Mid: 1.3581

12

Open: 1.3573

Close: 1.3553

Mid: 1.3556

13

Open: 1.3551

Close: 1.3581

Mid: 1.3555

14

Open: 1.3551

Close: 1.3581

Mid: 1.3555

15

Open: 1.3581

Close: 1.3605

Mid: 1.3589

16

Open: 1.3607

Close: 1.3572

Mid: 1.3597

17

Open: 1.3576

Close: 1.3621

Mid: 1.3611

18

Open: 1.3621

Close: 1.3653

Mid: 1.3651

19

Open: 1.3654

Close: 1.3772

Mid: 1.3726

20

Open: 1.3779

Close: 1.3873

Mid: 1.3848

21
22

Open: 1.3873

Close: 1.3881

Mid: 1.3857

23

Open: 1.3881

Close: 1.3984

Mid: 1.3929

24

Open: 1.3983

Close: 1.4047

Mid: 1.4027

25

Open: 1.4052

Close: 1.4128

Mid: 1.4116

26

Open: 1.4136

Close: 1.4152

Mid: 1.4136

27

Open: 1.4157

Close: 1.4122

Mid: 1.4149

28

Open: 1.4157

Close: 1.4122

Mid: 1.4149

29

Open: 1.4122

Close: 1.4115

Mid: 1.4112

30

Open: 1.4110

Close: 1.4207

Mid: 1.4180

May - 2018

SunMonTueWedThuFriSat
1

Open: 1.4207

Close: 1.4283

Mid: 1.4247

2

Open: 1.4281

Close: 1.4296

Mid: 1.4267

3

Open: 1.4294

Close: 1.4204

Mid: 1.4233

4

Open: 1.4203

Close: 1.4243

Mid: 1.4259

5
6

Open: 1.4238

Close: 1.4245

Mid: 1.4231

7

Open: 1.4243

Close: 1.4237

Mid: 1.4244

8

Open: 1.4240

Close: 1.4345

Mid: 1.4307

9

Open: 1.4351

Close: 1.4425

Mid: 1.4356

10

Open: 1.4425

Close: 1.4362

Mid: 1.4410

11

Open: 1.4358

Close: 1.4347

Mid: 1.4344

12

Open: 1.4347

Close: 1.4347

Mid: 1.4347

13

Open: 1.4360

Close: 1.4353

Mid: 1.4347

14

Open: 1.4359

Close: 1.4455

Mid: 1.4388

15

Open: 1.4455

Close: 1.4570

Mid: 1.4522

16

Open: 1.4568

Close: 1.4484

Mid: 1.4518

17

Open: 1.4487

Close: 1.4523

Mid: 1.4501

18

Open: 1.4528

Close: 1.4457

Mid: 1.4485

19

Open: 1.4461

Close: 1.4457

Mid: 1.4459

20

Open: 1.4457

Close: 1.4463

Mid: 1.4454

21

Open: 1.4460

Close: 1.4383

Mid: 1.4449

22

Open: 1.4382

Close: 1.4405

Mid: 1.4375

23

Open: 1.4403

Close: 1.4432

Mid: 1.4472

24

Open: 1.4438

Close: 1.4430

Mid: 1.4442

25

Open: 1.4430

Close: 1.4455

Mid: 1.4437

26

Open: 1.4455

Close: 1.4455

Mid: 1.4455

27

Open: 1.4455

Close: 1.4450

Mid: 1.4441

28

Open: 1.4457

Close: 1.4412

Mid: 1.4402

29

Open: 1.4411

Close: 1.4516

Mid: 1.4451

30

Open: 1.4516

Close: 1.4314

Mid: 1.4398

31

Open: 1.4320

Close: 1.4268

Mid: 1.4273

June - 2018

SunMonTueWedThuFriSat
1

Open: 1.4270

Close: 1.4316

Mid: 1.4308

2
3

Open: 1.4211

Close: 1.4326

Mid: 1.4257

4

Open: 1.4337

Close: 1.4221

Mid: 1.4246

5

Open: 1.4221

Close: 1.4226

Mid: 1.4215

6

Open: 1.4223

Close: 1.4205

Mid: 1.4194

7

Open: 1.4207

Close: 1.4243

Mid: 1.4198

8

Open: 1.4249

Close: 1.4206

Mid: 1.4239

9
10

Open: 1.4189

Close: 1.4218

Mid: 1.4221

11

Open: 1.4219

Close: 1.4253

Mid: 1.4211

12

Open: 1.4250

Close: 1.4273

Mid: 1.4222

13

Open: 1.4274

Close: 1.4235

Mid: 1.4242

14

Open: 1.4239

Close: 1.4363

Mid: 1.4249

15

Open: 1.4362

Close: 1.4391

Mid: 1.4406

16

Open: 1.4362

Close: 1.4391

Mid: 1.4406

17

Open: 1.4391

Close: 1.4414

Mid: 1.4406

18

Open: 1.4412

Close: 1.4427

Mid: 1.4416

19

Open: 1.4429

Close: 1.4480

Mid: 1.4478

20

Open: 1.4481

Close: 1.4556

Mid: 1.4508

21

Open: 1.4562

Close: 1.4551

Mid: 1.4576

22

Open: 1.4554

Close: 1.4474

Mid: 1.4469

23

Open: 1.4554

Close: 1.4474

Mid: 1.4469

24

Open: 1.4481

Close: 1.4460

Mid: 1.4444

25

Open: 1.4465

Close: 1.4513

Mid: 1.4501

26

Open: 1.4514

Close: 1.4598

Mid: 1.4553

27

Open: 1.4599

Close: 1.4727

Mid: 1.4681

28

Open: 1.4729

Close: 1.4809

Mid: 1.4786

29

Open: 1.4806

Close: 1.4762

Mid: 1.4782

30

Open: 1.4762

Close: 1.4762

Mid: 1.4762

July - 2018

SunMonTueWedThuFriSat
1

Open: 1.4762

Close: 1.4752

Mid: 1.4741

2

Open: 1.4752

Close: 1.4900

Mid: 1.4846

3

Open: 1.4902

Close: 1.4808

Mid: 1.4862

4

Open: 1.4811

Close: 1.4793

Mid: 1.4782

5

Open: 1.4792

Close: 1.4714

Mid: 1.4738

6

Open: 1.4713

Close: 1.4620

Mid: 1.4661

7

Open: 1.4620

Close: 1.4624

Mid: 1.4622

8

Open: 1.4624

Close: 1.4630

Mid: 1.4626

9

Open: 1.4634

Close: 1.4603

Mid: 1.4622

10

Open: 1.4603

Close: 1.4670

Mid: 1.4628

11

Open: 1.4667

Close: 1.4801

Mid: 1.4724

12

Open: 1.4806

Close: 1.4766

Mid: 1.4766

13

Open: 1.4763

Close: 1.4782

Mid: 1.4805

14

Open: 1.4782

Close: 1.4782

Mid: 1.4782

15

Open: 1.4782

Close: 1.4780

Mid: 1.4775

16

Open: 1.4786

Close: 1.4738

Mid: 1.4742

17

Open: 1.4739

Close: 1.4771

Mid: 1.4742

18

Open: 1.4769

Close: 1.4719

Mid: 1.4770

19

Open: 1.4723

Close: 1.4816

Mid: 1.4806

20

Open: 1.4820

Close: 1.4691

Mid: 1.4752

21
22

Open: 1.4684

Close: 1.4659

Mid: 1.4671

23

Open: 1.4662

Close: 1.4742

Mid: 1.4702

24

Open: 1.4748

Close: 1.4702

Mid: 1.4720

25

Open: 1.4702

Close: 1.4610

Mid: 1.4669

26

Open: 1.4611

Close: 1.4736

Mid: 1.4680

27

Open: 1.4731

Close: 1.4736

Mid: 1.4734

28

Open: 1.4731

Close: 1.4736

Mid: 1.4734

29

Open: 1.4736

Close: 1.4714

Mid: 1.4711

30

Open: 1.4717

Close: 1.4651

Mid: 1.4681

31

Open: 1.4651

Close: 1.4700

Mid: 1.4672

August - 2018

SunMonTueWedThuFriSat
1

Open: 1.4699

Close: 1.4718

Mid: 1.4708

2

Open: 1.4718

Close: 1.4841

Mid: 1.4785

3

Open: 1.4846

Close: 1.4826

Mid: 1.4833

4

Open: 1.4846

Close: 1.4826

Mid: 1.4833

5

Open: 1.4826

Close: 1.4820

Mid: 1.4812

6

Open: 1.4830

Close: 1.4857

Mid: 1.4844

7

Open: 1.4858

Close: 1.4835

Mid: 1.4826

8

Open: 1.4831

Close: 1.4937

Mid: 1.4840

9

Open: 1.4939

Close: 1.5134

Mid: 1.5030

10

Open: 1.5132

Close: 1.5191

Mid: 1.5151

11

Open: 1.5132

Close: 1.5191

Mid: 1.5151

12

Open: 1.5191

Close: 1.5185

Mid: 1.5204

13

Open: 1.5172

Close: 1.5207

Mid: 1.5192

14

Open: 1.5206

Close: 1.5216

Mid: 1.5180

15

Open: 1.5219

Close: 1.5251

Mid: 1.5248

16

Open: 1.5247

Close: 1.5184

Mid: 1.5181

17

Open: 1.5188

Close: 1.5065

Mid: 1.5124

18

Open: 1.5188

Close: 1.5065

Mid: 1.5124

19

Open: 1.5065

Close: 1.5094

Mid: 1.5069

20

Open: 1.5097

Close: 1.5055

Mid: 1.5087

21

Open: 1.5060

Close: 1.4918

Mid: 1.5015

22

Open: 1.4918

Close: 1.4933

Mid: 1.4927

23

Open: 1.4930

Close: 1.5091

Mid: 1.5006

24

Open: 1.5091

Close: 1.4961

Mid: 1.5000

25

Open: 1.5091

Close: 1.4961

Mid: 1.5000

26

Open: 1.4953

Close: 1.4917

Mid: 1.4933

27

Open: 1.4924

Close: 1.4916

Mid: 1.4947

28

Open: 1.4916

Close: 1.4894

Mid: 1.4894

29

Open: 1.4891

Close: 1.4895

Mid: 1.4904

30

Open: 1.4900

Close: 1.5044

Mid: 1.4993

31

Open: 1.5039

Close: 1.5108

Mid: 1.5049

September - 2018

SunMonTueWedThuFriSat
1

Open: 1.5108

Close: 1.5108

Mid: 1.5108

2

Open: 1.5108

Close: 1.5132

Mid: 1.5104

3

Open: 1.5135

Close: 1.5132

Mid: 1.5133

4

Open: 1.5140

Close: 1.5264

Mid: 1.5227

5

Open: 1.5264

Close: 1.5155

Mid: 1.5231

6

Open: 1.5152

Close: 1.5192

Mid: 1.5153

7

Open: 1.5189

Close: 1.5293

Mid: 1.5204

8

Open: 1.5293

Close: 1.5293

Mid: 1.5293

9

Open: 1.5293

Close: 1.5294

Mid: 1.5297

10

Open: 1.5300

Close: 1.5334

Mid: 1.5319

11

Open: 1.5336

Close: 1.5346

Mid: 1.5320

12

Open: 1.5348

Close: 1.5241

Mid: 1.5301

13

Open: 1.5242

Close: 1.5212

Mid: 1.5237

14

Open: 1.5213

Close: 1.5262

Mid: 1.5170

15

Open: 1.5213

Close: 1.5262

Mid: 1.5170

16

Open: 1.5274

Close: 1.5281

Mid: 1.5254

17

Open: 1.5291

Close: 1.5234

Mid: 1.5228

18

Open: 1.5236

Close: 1.5179

Mid: 1.5182

19

Open: 1.5178

Close: 1.5053

Mid: 1.5110

20

Open: 1.5055

Close: 1.4965

Mid: 1.5008

21

Open: 1.4965

Close: 1.4955

Mid: 1.4958

22

Open: 1.4950

Close: 1.4955

Mid: 1.4953

23

Open: 1.4955

Close: 1.4961

Mid: 1.4974

24

Open: 1.4967

Close: 1.5054

Mid: 1.4992

25

Open: 1.5055

Close: 1.5048

Mid: 1.5046

26

Open: 1.5048

Close: 1.5007

Mid: 1.4998

27

Open: 1.5012

Close: 1.5112

Mid: 1.5048

28

Open: 1.5112

Close: 1.5104

Mid: 1.5115

29

Open: 1.5112

Close: 1.5104

Mid: 1.5115

30

Open: 1.5104

Close: 1.5100

Mid: 1.5086

October - 2018

SunMonTueWedThuFriSat
1

Open: 1.5100

Close: 1.5137

Mid: 1.5122

2

Open: 1.5139

Close: 1.5175

Mid: 1.5156

3

Open: 1.5176

Close: 1.5380

Mid: 1.5260

4

Open: 1.5379

Close: 1.5431

Mid: 1.5408

5

Open: 1.5429

Close: 1.5518

Mid: 1.5481

6
7

Open: 1.5514

Close: 1.5525

Mid: 1.5533

8

Open: 1.5533

Close: 1.5500

Mid: 1.5523

9

Open: 1.5501

Close: 1.5419

Mid: 1.5501

10

Open: 1.5423

Close: 1.5477

Mid: 1.5449

11

Open: 1.5480

Close: 1.5323

Mid: 1.5388

12

Open: 1.5325

Close: 1.5365

Mid: 1.5335

13

Open: 1.5325

Close: 1.5365

Mid: 1.5335

14

Open: 1.5325

Close: 1.5382

Mid: 1.5365

15

Open: 1.5378

Close: 1.5214

Mid: 1.5266

16

Open: 1.5214

Close: 1.5191

Mid: 1.5194

17

Open: 1.5187

Close: 1.5274

Mid: 1.5200

18

Open: 1.5280

Close: 1.5292

Mid: 1.5265

19

Open: 1.5291

Close: 1.5160

Mid: 1.5181

20

Open: 1.5291

Close: 1.5160

Mid: 1.5181

21

Open: 1.5172

Close: 1.5163

Mid: 1.5133

22
23
24
25
26
27
28
29
30
31

November - 2018

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4
5
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7
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13
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17
18
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23
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27
28
29
30

December - 2018

SunMonTueWedThuFriSat
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2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
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21
22
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24
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28
29
30
31
For full historical data please visit: USD/NZD exchange rate history pages for the past 365 days
For full historical data please visit: USD/NZD exchange rate history pages for the year 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012

USD News and Forecasts from Pound Sterling Live's Editorial Team

The Pound-to-Dollar Rate in the Week Ahead: Range-Bound With Marginal …

The GBP/USD rate is currently trading within a sideways range between a 1.2930 floor and...

Pound-to-Dollar Rate in Danger of Further Losses as "Domestic Pol…

The Pound has handed back all of its October gains over the Dollar heading into...

Pound-to-Dollar Rate: The Fed's Push to Raise Interest Rates above …

The Pound-to-Dollar rate could benefit from the Federal Reserve's (Fed) push to raise its interest rate above the...

The Japanese Yen is Taking the U.S. Dollar's Safe-haven Crown says Rab…

Investors are beginning to favour alternative safe-haven currencies such as the Yen and Swiss Franc...

Rising FX Hedging Costs now a U.S. Dollar Headwind

The high cost of hedging FX positions in the U.S. is leading many foreign bond...

Publications from the US Federal Reserve

Distance and Decline: The Case of Petersburg, Virginia

Petersburg, Virginia, prospered over two centuries as a center of production and trade. However, the city experienced economic difficulties beginning in the 1980s as a large number of layoffs at...

Review of New York Fed studies on the effects of post-crisis banking r…

In 2017, the Federal Reserve Bank of New York initiated a project to examine the effects of post-crisis reforms on bank performance and vulnerability. The project, which was completed in...

The pre-crisis monetary policy implementation framework

This article describes the Federal Reserve’s (“the Fed’s”) operating framework for monetary policy prior to the expansion of the Fed’s balance sheet during the financial crisis. To implement the Fed’s...

Trends in credit basis spreads

Market participants and policymakers were surprised by the large, prolonged dislocations in credit market basis trades during the second half of 2015 and the first quarter of 2016. In this...

Negative swap spreads

Market participants have been surprised by the decline of U.S. interest rate swap rates relative to Treasury yields of equal maturity over the past two years, with interest rate swap...