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Dollar funding crisis reaches...Switzerland. This isn't (just) Credit Suisse, though.

Eurodollar University

00:00

Those Treasuries in Custody at the Federal Reserve Bank of New York

Foreign governments use their treasuries whenever confronted with a dollar shortage. Sometimes they're transferred as collateral in term repos, perhaps some contingent liability,. Anyway, whatever reason they leave the Federal Reserve Bank of New York's custody and then disappear off into the ether. In any two week period, there's only been a couple, a handful of instances where we've seen a bigger decline in a two week period.

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