Bill Nelson on the Fed’s Discount Window Lending, the Overnight Reverse Repo Facility, and the Shifting Size of the Fed’s Balance Sheet
Macro Musings with David Beckworth
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The Disadvantages of the Standing Repo Facility
The bank term funding program is kind of in the same spirit it's like we'll take your treasuries and we'll give you the reserves you need. They made it super easy they made it at collateral at par value and I don't know what does this mean for something like the standing repo facility did we see any test of it during this moment or did the generous terms make it less relevant? It doesn't actually add any right so all of the securities that you can bring to the standing repo Facility to convert into reserve balances are securities that the discount window takes.
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