UK banks have seen the same shift in deposit composition
Hi Dim, yes, QE eventually landed in ON deposits and reserves - having elevated risk assets via the removal of duration along the way.
Great piece, Meyrick, as usual! So from a quantity perspective, all QE did was create reserves and just keep them in the banking system in the shortest-term possible?
Hi Dim, yes, QE eventually landed in ON deposits and reserves - having elevated risk assets via the removal of duration along the way.
Great piece, Meyrick, as usual! So from a quantity perspective, all QE did was create reserves and just keep them in the banking system in the shortest-term possible?