Fed takes first step to unwind repo support
The Federal Reserve Bank of New York has taken steps to reduce its activity in the domestic repo market after seeing signs of more stable market conditions.
It marks the Fed’s first move to pare back some of the forceful action taken over recent weeks to support the financial system, which has been disrupted by the outbreak of the coronavirus.
The New York Fed has removed one of the two daily $500 billion repo operations and reduced the frequency of the three-month term operations to once
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Financial Stability
BIS’s Restoy warns of limits to deposit insurance reform
Better use of supervision could solve many issues without deposit insurance reform, official says
US banks need higher equity capital levels, Kashkari says
“Essentially unlimited deposit insurance” poses systemic risk, says Minneapolis Fed president
IMF urges caution in UK financial services reforms
Fund says efforts to ease or simplify rules must be “carefully weighed”
Dollar’s commodities link is creating risks, BIS paper warns
Simultaneous rises in dollar and commodities prices could harm stability, researchers say
China’s National Financial Regulatory Administration officially opens
Veteran banker and former provincial governor Li Yunze will lead new regulator
Spillovers more widespread than previously thought – Boston Fed
Many central banks cause spillovers besides the Federal Reserve, researcher says
Book notes: The Federal Reserve: a new history, by Robert L Hetzel
This book should become the standard reference for scholars
Lebanese governor fails to attend French court hearing
Salameh’s lawyer calls summons “null and void” as politicians hold talks over possible successor