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Old 10-29-2019, 01:14 PM   #241
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Originally Posted by rblong2us View Post:
So change the compliance rules or find ways to get the money to go where its needed.

If the problem is a lack of money and the Feds only tool is to print more of the stuff, then this has to be a fixable problem .......
hmmm

Quote :
As usual passing the buck and putting the blame for JPM stepping away from the repo market - and catalyzing the Sept 16 repo rate explosion - on regulators, Dimon said his firm had the cash and willingness to calm repo markets when they went haywire in September, but regulations held it back.

Meanwhile, as part of stepping away from the repo market, JPMorgan succeeded in forcing the Fed to restart not only repo operations, but also QE. As a result, the Fed began daily liquidity injections, and even as repo rates have since returned to more normal levels, the Fed has also resumed purchases of Treasuries to bolster bank reserves.
from - https://www.zerohedge.com/geopolitic...ay-loosen-gsib


Quote :
It's also why Jamie Dimon is hoping to fully deregulate the financial system, so that he has no longer has any constraints on what his balance sheet should look like. And if regulators needs a little more "convincing", JPM is happy to crash the repo market as many times as is necessary.
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Old 11-15-2019, 09:17 AM   #242
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Quote :
November 14, 2019

The Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York has released the schedule of repurchase agreement (repo) operations for the monthly period from November 15, 2019 through December 12, 2019. In accordance with the most recent FOMC directive, the Desk will continue to offer at least $35 billion in two-week term repo operations twice per week and at least $120 billion in daily overnight repo operations.

The Desk will also offer three additional term repo operations during this calendar period with longer maturities that extend past the end of 2019. These additional operations are intended to help offset the reserve effects of sharp increases in non-reserve liabilities later this year and ensure that the supply of reserves remains ample during the period through year end. They are also intended to mitigate the risk of money market pressures that could adversely affect policy implementation. The Desk will adjust the timing and amounts of repo operations as necessary to maintain an ample supply of reserve balances over time and based on money market conditions, consistent with the directive from the FOMC.
...
https://www.newyorkfed.org/markets/o..._policy_191114

That ain't workin' that's the way you do it
Money for nothin' and your chicks for free
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Old 12-02-2019, 10:09 AM   #243
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...
Dealers submitted $42.550BN in bids for the 42-day op ($29.750BN in Treasurys, $1BN in Agency, $11.8BN in MBS paper), resulting in an oversubscription of the $25BN in available repo.

This was modestly below the $49.050 billion submitted in the first 42-day repo operation conducted on November 25.

It remains a key question for funding markets why, even with QE4 in place and now daily overnight and short-term repo operations in place, banks continue to rush to lock in year-end liquidity ...
...
https://www.zerohedge.com/markets/fe...liquidity-rush
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Old 12-05-2019, 10:15 AM   #244
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The repo turmoil that put traders on edge in September has prompted a full scale review by regulators, who identified disruptions to short-term funding markets as a potential risk to the U.S. financial system.

The Financial Stability Oversight Council is calling for federal agencies to collect data and scrutinize cleared repurchase transactions to determine what prompted rates to spike three months ago, according to Treasury Department officials. The group, led by Treasury Secretary Steven Mnuchin, highlighted the examination in its annual report released Wednesday.
...
https://www.bloomberg.com/news/artic...d=fixed-income

haha/ Nelson Muntz

Dotting the "i"s and crossing the "t"s to build the foundation for the legislative deregulation that Dimon wants.

The following headline caught my attention. The article didn't really say anything new until a comment near the end really blew my mind (emphasis mine):

Quote :
The repo market is ‘broken’ and Fed injections are not a lasting solution, market pros warn

... Paresh Upadhyaya, director of U.S. currency strategy at Amundi Pioneer.

But Upadhyaya also sees potential knock-on effects from the Fed’s stabilization efforts, including short term yields being pressured lower and investors taking advantage of the liquidity to rotate to riskier assets, as the central bank’s share of the T-bill market expands to an estimated 20% of the market by mid-2020 from 1% currently.

“We’re very much on track for that,” he said.
https://www.marketwatch.com/story/gu...8-78FDC05761AF
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