From today’s FOMC minutes: The Fed is allowing banks to perform overnight lending on securities.

by laflammaster

www.federalreserve.gov/monetarypolicy/files/fomcminutes20220126.pdf

They’re increasing liquidity of the SOMC market by allowing this.

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Seems that they know banks are in deep shit (maybe a result of swaps data release?).

Liquidity gives them another day to stay afloat.

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