November 2011
Beginner
335 pages
9h 33m
English
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U.S. Repo Market
The U.S. repo market began in 1918 when the central bank sold Bankers Acceptance Certificates to the private market only to buy them back at a later date (Treasury 2010). Bankers Acceptances are timed drafts sold at a discount in the money market and represent one of the oldest money market instruments. The Federal Reserve conducts Open Market operations through the New York Fed by its System Open Market Operations but reports through the SOMA account, termed the System Open Market Account. The Fed uses this account to manage currency in circulation, manage reserves, and provide liquidity in emergency situations. This is conducted through trade of the Fed Funds Rate.
The Monetary Control Act of 1980 allowed the Fed to exchange ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.