It’s a $1.5+ Trillion Bankers’ Bailout, the Rest is Just Pure Noise | Covert Geopolitics
The Fed will offer up to $75 billion a day in repurchase agreements — exchanging secure assets for cash for very short periods — through October 10, it said in a statement.
In addition, it will offer three 14-day “repo” operations of at least $30 billion each.
Banks have struggled in recent days to find the cash needed to meet reserve requirements which has pushed up short-term borrowing rates, prompting the New York Fed to pump billions into US money markets with repo operations over the past four days.
The crash may have just begun… We will see.