- The Federal Reserve may launch a policy tool to lend to banks using Treasuries and other securities as collateral in early 2020, with possible testing to begin later this year, a Deutsche Bank strategist said.
“We reaffirm our expectations that the Fed could test this facility later this year and launch it for full-scale operations in early 2020,” Deutsche Bank strategist Steven Zeng wrote in a research note published late on Friday. “Our base case remains for this facility to be implemented eventually, but we think it can take longer than we previously expected – around Q3 2020 – given diverse opinions on the parameters from the participants,” Citi Research rates strategist Steve Kang wrote in a research note.
For traders and investors, a repo facility could support Treasuries trading volumes and liquidity by offering more flexibility to banks to move between holding reserves and holding securities, he said.
Lol....know any presidents who might have friends that own small-time banks in the USA? Yikes.
So this isn't an attempt at no-risk laundering of a growing and more useless Treasury debt ?
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