NY Fed’s Remache: Fed balance sheet run-off is smooth, but money market signals being closely watched
Video highlight: Federated Hermes’s Sue Hill on how important is RRP exposure for money market funds, Rates & Repo North America 2023
US$1.9 trillion at the Fed’s Reverse Repo Facility – a big number for sure, but one that should be taken in context
NY Fed’s Logan: administered rates and spread will control ON MM rates in FOMC’s ample-reserves regime
The Fed's Reverse Repo Facility will be here for a long time, and other lessons from the recent FOMC meeting (Premium)
Monday news roundup: repo settlement; variation margin at CCPs; the Open Ledger Project and more (Premium)
How the Fed will really raise rates, and immediate impacts on securities finance and rates businesses (Premium Content)
Monthly balance sheet optimization exercises in the US: data from the Fed suggests it is now a reality
The Fed publishes “Overnight RRP Operations as a Monetary Policy Tool: Some Design Considerations”, a look at the RRP program objectives and risks, Part II
Fed's Potter outlines how they will raise rates….using higher IOER as a magnet. We think RRP is a better tool.
"Reforming Major Interest Rate Benchmarks" from the FSB looks at using GCF repo as derivatives benchmark
Zoltan Pozsar's new paper “Shadow Banking: The Money View”: some very interesting ideas on how to use the Fed's reverse repo program
A paper from the Peterson Institute for International Economics argues to set IOER and RRP at the same rates. It make a lot of sense.