Not Transitory – Fed Liquidity Handout Surges To Near $90 Billion
So much for the ‘transitory’ liquidity shortage arguments put forth by commission-takers and asset-gatherers, The NYFed accepted $87.7 billion (in o/n and term) repo today – the highest level yet.
The Fed accepted $20.1 billion in 14-day term repo…
And $67.7 billion in overnight repo…
The biggest overnight repo (liquidity bailout) since September.
Having stabilized in the $30-40 billion range, liquidity needs have surged once again as it seems the big banks just cannot wait for The Fed’s NotQE in November.
