Impact Of Prime Money Fund Reform On Repo Rates Is Relatively Minor: Credit SuisseMani
Though only three months are left to go until the October 17 prime money fund reform deadline, the impact of the reform on repo rates is shaping up to be relatively minor, states Credit Suisse. In their August 3 research piece titled “Global Money Notes #7,” Zoltan Pozsar and Sarah Smith offer a one-by-one review of the balance sheet of every major foreign bank branch in New York that is a habitual issuer of unsecured paper to prime money funds.
Rapidly shortening tenor of foreign banks . . .
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