/biz/ - Business & Finance

>>56587175
had to look up what "Standing Repo Facility Counterparties" was
>the Federal Open Market Committee (FOMC) established the SRF to serve as a backstop in money markets to support the effective implementation and transmission of monetary policy and smooth market functioning. The FOMC has authorized and directed the New York Fed’s Open Market Trading Desk (the Desk) to conduct overnight repurchase agreement (repo) operations with a specified minimum bid rate and aggregate operation limit. When the Federal Reserve enters into an overnight repo transaction, it buys a security from an eligible counterparty and simultaneously agrees to sell the security back the next day. The difference between the purchase price and the sale price of the securities implies a rate of interest earned by the Federal Reserve on the transaction. The FOMC sets the SRF minimum bid rate, which is the minimum interest rate the Federal Reserve is willing to receive in an SRF operation.
>the fed is trying to bring the banks closer to the government in the name of "financial policy".
tl;dr: more bidenomics smoke and mirrors