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The Fed Put Still Lives | Vincent Daniel
Forward Guidance
The Impact of the BTFP on the Banking System
The reason why we did not have a widespread deposit run was because of the facilities they set up. The BTAP, right, it was saying it stands for by the fucking paper. It shorted up the systemic risks associated with the banks. Banks never had to compete really against anything for what was considered safe where you would park safe savings and not fear that you were going to lose any of your money.
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