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Forward Guidance
Commercial Banks Taper Treasury Purchases | Joseph Wang & DC Analyst
Apr 20, 2022
01:03:00
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Quick takeaways
- Banks buying fewer Treasuries due to slowing balance sheet growth.
- Quantitative tightening expected to be different with better control over overnight market.
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Banks buying fewer Treasuries due to balance sheet constraints
Banks have been buying fewer Treasuries due to the growth of their balance sheets, which has slowed down. In the past two years, banks bought Treasuries primarily because their balance sheets were growing rapidly. However, with the fiscal impulse fading and the balance sheet growth slowing, banks are not buying as many Treasuries. Smaller banks are still buying some, but large banks are not buying them at all.
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