Steven Kelly on Crises, Stability, and the Fed’s Role in Financial Markets
Macro Musings with David Beckworth
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The San Repo Facility
Soma: The standing repo facility is great at replacing lost repot funding. But if the asset side blows up, you know, as treasuries can do in a given day, then we're sort of eroding capital. Soma: This kind of goes back to this idea of the derivatives authority. If the fed can take a match book position, again, take a portfolio viewa, there's more the fed can do because it's more secure.
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