Category Archives: Money market funds

Gallery

At mid-year, repo is like an ancient fable

This gallery contains 1 photos.

Today’s repurchase market is like the ancient fable of the six blind men and the elephant, where the blind men offer very different descriptions of what each saw when they touched an elephant in a different spot. The only thing … Continue reading

Gallery

The 2008 crisis: Was it traditional banks or shadow banks?

This gallery contains 1 photos.

Still think the financial crisis happened at banks? Think the extensive regulation of banks that Congress and regulators have undertaken since 2008 has solved the problem? Take a look at this chart from “Shadow Banking Reemerges, Posing Challenges to Banks … Continue reading

Advertisement

Gallery

Lenders drove the boom and the bust

This gallery contains 1 photos.

In the years leading up to the 2008 financial crisis, trillions of new dollars flooded into housing.  Why? Was it coaxed into the housing market by borrowers who convinced bankers they could pay back the loans? No. It gushed into … Continue reading

Gallery

Runs still threaten the repurchase market: 2014 in review

This gallery contains 1 photos.

As 2014 comes to a close,  it’s tempting to try to assess how much systemic risk has been wrung out of the repurchase market by six years of reforms. A fair summary would be: Much proposed but little imposed. In … Continue reading

Gallery

Covering the Repo Market and Shadow Banking

This gallery contains 1 photos.

From the Donald W. Reynolds National Center for Business Journalism at Arizona State University: Mary Fricker, founder of RepoWatch.org, said the repurchase market is a key reason for the ferocity of the financial crisis. She shares her tips and resources … Continue reading

Gallery

NY Fed chief lays it on the line, for bankers and for the rest of us

This gallery contains 1 photos.

It felt like “The Gunfight at the O.K. Corral.” First to appear was departing Treasury Secretary Timothy Geithner, who told Wall Street Journal economics editor David Wessel in a wide-ranging exit interview January 17 that the financial markets are much … Continue reading

Gallery

How journalists can learn from the 2008 financial crisis

This gallery contains 1 photos.

This post is a transcript of  an 11-minute talk RepoWatch editor Mary Fricker gave to college journalism professors, students and others at the 11th Annual Convergence and Society Conference, Advancing Business Journalism and Convergence, at the University of South Carolina School … Continue reading

Gallery

Economists and other analysts see value, danger in repo and shadow banking, urge reform

This gallery contains 2 photos.

Latest update: October 2, 2012 In recent months economists and other experts have published a torrent of reports on repo and shadow banking, noting their importance and their dangers and urging reform. Following are 74 of the reports, arranged chronologically … Continue reading

Gallery

News Round-up: Role of repo, securitization and shadow banking unsettled in post-crisis world

This gallery contains 1 photos.

RepoWatch recommends the following news reports. Items are arranged chronologically, with the most recent coming first. “Fed Said to Press BNY Mellon to Speed Repo Market Change” by Bradley Keoun, Bloomberg News, September 25: The Federal Reserve, seeking to cut … Continue reading

Gallery

News Round-up: Shadow bankers and regulators dig in for a long tug of war

This gallery contains 1 photos.

Updated June 18, 2012 RepoWatch recommends the following reports. Search for the topics that interest you: DataWatch, International repo market, Money market funds, Regulation, Repurchase transactions, Securitization, Shadow banking, Too big to fail, and Tri-party repo. Items are arranged chronologically, … Continue reading

Gallery

Shadow banking, part 2: Lack of shadow master plan means impact of new rules is uncertain

This gallery contains 1 photos.

The shape of shadow banking reform is now clear. Congress and regulators are going to put a bunch of new rules in place, but they’re not going to articulate a coherent vision of what shadow banking should, or should not, … Continue reading

Gallery

News round-up: Turmoil in shadow banking

This gallery contains 1 photos.

RepoWatch recommends the following reports. Search for the topics that interest you: Accounting, Collateral, DataWatch, Finding a fix, International repo, Money market funds, Securities lending, Securitization, Shadow banking, and Tri-party repo. Items are arranged chronologically, within topics that are listed alphabetically. … Continue reading

Gallery

News roundup: Repo and shadow banking in the crosshairs

This gallery contains 1 photos.

Repo and shadow banking have been getting a lot of attention lately. It’s rewarding that an understanding of their importance is spreading. RepoWatch recommends the following reports, arranged within topics that are listed alphabetically: Financial crisis “Getting up to speed … Continue reading

Gallery

Regulators talk tough about tri-party reform

This gallery contains 1 photos.

If the industry task force working to make the tri-party repurchase market more stable in a crisis won’t do the job, regulators may have to do it for them. That tough warning comes from William Dudley, president of the Federal … Continue reading

Gallery

Reuters: U.S. banks making repo loans to European banks

This gallery contains 1 photos.

Reuters reports U.S. banks have agreed in recent weeks to make billions of dollars of repurchase loans to European banks, contrary to the official word from U.S. regulators that American banks have reduced their exposure to European banks to a minimum … Continue reading

Gallery

If it walks like a bank, it should be regulated like a bank

This gallery contains 1 photos.

Financial institutions that borrow short-term loans and use that money to lend long-term loans – that is, they borrow short and lend long – should be regulated like FDIC-insured banks. That’s the essence of a new paper by Morgan Ricks, a … Continue reading

Gallery

Fitch: Shortage of risk-free repo collateral hits prime money market funds

This gallery contains 1 photos.

Prime money market funds, which invest in both corporate and government securities, are increasingly accepting nongovernment securities as collateral for repo loans, according to an August 4 Fitch Ratings survey of the 17 money market funds it rates. The survey did not say what … Continue reading

Gallery

Lenders, not borrowers, were the driving force behind the financial crisis

This gallery contains 1 photos.

Editor’s note: RepoWatch would like to recognize Financial Times editor Gillian Tett, whose August 11 column about the Pozsar report proves once again that she is far ahead of other journalists in her understanding of the core issues facing financial … Continue reading

Gallery

JPM and BoNY exposed during debt-ceiling crisis

This gallery contains 1 photos.

Editor’s note: It’s a scandal that Bernanke and Geithner handed reform of tri-party repo to  the bankers instead of to Congress and Dodd-Frank and the reform has not been done. Commentary The most vulnerable banks during this U.S. debt-ceiling crisis … Continue reading

Gallery

Watching U.S. money market funds for signs of a run on EU repo

This gallery contains 1 photos.

New reports from Fitch Ratings and the Financial Times say U.S. money market funds are cutting their exposure to European banks, presumably to protect themselves in the event of a full-blown EU debt crisis. But neither report answers a critical question … Continue reading