Federal Reserve named banks it gave emergency repo loans in 2019
Four days ago, the Federal Reserve released the names of the banks that had received $4.5 trillion in cumulative loans in the last quarter of 2019 under its emergency repo loan operations for a liquidity crisis that has yet to be credibly explained. Among the largest borrowers were JPMorgan Chase, Goldman Sachs and Citigroup, three of the Wall Street banks that were at the center of the subprime and derivatives crisis in 2008 that brought down the U.S. economy. That’s blockbuster news. But as of 7 a.m. this morning, not one major business media outlet has reported the details of the Fed’s big reveal.
What is the takeaway? Is it the largest liquidity crisis of largest US banks? JPMorgan Chase, Goldman Sachs and Citigroup are among the largest borrowers. It is all on NY Fed website in markets - OMO_transaction_data
Wallstreetonparade is the website where it was spotted first and sorry can't post link on reddit here cause don't have enough points
jericho_1, way too quiet in here. What about these resources:
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You're welcome.
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