triparty repo

  • The temptation to use a googly-eyed pile of money was strong but I resisted. The guy gave the speech after all.

    News

    NY Fed President Wants To Subsidize Shadow Banking More, Or Get Rid Of It, One Or The Other

    One reason that it’s silly to get worked up about banks gambling with your deposits is that they’re mostly not. Your deposits have a tendency to be structurally senior, insured, at regulated subs, etc.; nothing all that bad will happen to them. Banks are gambling with your money market funds, and with the securities-lending proceeds […]

    / Feb 1, 2013 at 5:23 PM
  • This cash is awake.

    Banks, News

    Shadow Banking Is Just Like Regular Banking, Only Darker

    It feels virtuous every so often to take glance over at the triparty repo market. You get a nice dose of horrified vertigo and then go back to your life and don’t think about it for a while and that always feels better. Now is a good time to get back to it, what with […]

    / Aug 2, 2012 at 1:13 PM

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