A modest return of liquidity means FOMC can focus on rate hikes
Money market funds switch from Reverse Repurchase Programme to banks
Money-market funds have moved some of their cash from the Reverse Repurchase Programme (RRP). This is an important development as it allows more (relative) liquidity to flow into the inter-bank settlement process - easing pressure on securities market liquidity. Is this move itself a reaction to the parlous state of liquidity in markets? Certainly any …
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