Bailing out its crybaby-cronies on Wall Street, even when there isn’t a crisis.
by Wolf Richter
Wolf Street
The total amount of repurchase agreements (“repos”) on the Fed’s balance sheet as of December 4, released today, declined to $209 billion, from $215 billion a month ago. These repos included:
— $70 billion in overnight repos, issued on Wednesday morning that unwound today; all prior overnight repos had already unwound.
— $88 billion in multi-day repos with maturities of up to two weeks;
— $50 billion in 42-day repos; of which $25 billion were issued on November 25 and $25 billion on December 2. They will unwind early next year.