Single-Tranche Repurchase Agreements
The Single-Tranche Repurchase Agreements
New York Fed:
“On March 7, with spreads between 1-month Treasury repo and 1-month Agency MBS repo having reached as high as 140 basis points, the Desk began to initiate a series of 1-day forward 28-day single-tranche RPs.6 This 28-day RP book grew to $80 billion over the course of the year (Chart 6). These operations were intended to narrow the 1-month repo spread between Treasury and Agency MBS collateral and provide the primary dealers a steady financing source for Agency MBS. In response, the spread eventually narrowed to about 20 basis points, close to historical norms.”[1](Via Prins)
Prins:[2]
“In 2009, the Fed offered a total of $80 billion for short-term loans to holders of mortgage-backed securities."
| SINGLE-TRANCHE REPURCHASE AGREEMENTS |
|---|
| Balance Sheet |
| Disbursed*: $80B [3] |
| Current outstanding: $0 [4] |
| Public Funds |
| Maximum at-risk: $80B [5] |
| Current at-risk: $0 [6] |
* See the methodology and glossary for definitions of "disbursed," etc.
Contents
Funding agency and aid type
Who benefits
Background
Notes
Articles and resources
Related SourceWatch articles
References
- ↑ Bank of New York, “Domestic Open Market Operations During 2008”, January 2009, p. 11
- ↑ Prins’ Mother Jones analysis. Dec. 21, 2009. http://motherjones.com/politics/2009/12/behind-real-size-bailout
- ↑ Prins’ Mother Jones analysis, Dec. 21, 2009. Federal Reserve Bank of New York, “Domestic Open Market Operations during 2009," Table 3, p. 30.
- ↑ Prins’ Mother Jones analysis. Dec. 21, 2009. http://motherjones.com/politics/2009/12/behind-real-size-bailout Federal Reserve Bank of New York, “Domestic Open Market Operations during 2009,” [1] Table 3, p. 30.
- ↑ “Behind The Real Size of the Bailout,”[ http://motherjones.com/politics/2009/12/behind-real-size-bailout] December 21, 2009. Federal Reserve Bank of New York, “Domestic Open Market Operations during 2008” http://www.newyorkfed.org/markets/omo/omo2008.pdf [2] p.11
- ↑ Prins’ Mother Jones analysis. Dec. 21, 2009. http://motherjones.com/politics/2009/12/behind-real-size-bailout Federal Reserve Bank of New York, “Domestic Open Market Operations during 2009,” [3] Table 3, p. 30.
External resources
External articles
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