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The last seasonal low point for liquidity unleashed the first wave of the banking crisis.

Eurodollar University

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Introduction

We are a week away from the June quarterly seasonal bottleneck. Last year, we could see major issues with June 15th quarterly low point. We had a whole range of financial and monetary indications which suggested it was an unusually severe one. The four-week T-bill rate was 57 basis points below the new RRP,. suggesting huge demand for collateral.

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