The volume of the NY Fed's reverse repos has declined too, totaling $2.537 B yesterday with 9 counterparties, versus $2.81 B Tuesday (9 counterparties), and compares to the term repo
from December 31 at $41.8 B with 17 counterparties.
Indeed, on March 5, SAMA suspended its term repo
facility for maturities of seven, 28 and 90 days.
"Those measures may include a cut in CRR, an increase in term repo
or any additional liquidity measures."
The Bank is currently considering how it might be able to assist with this, given that the development of a term repo
facility would be consistent with the Bank's aim to support the development of New Zealand capital markets.
It allotted the full amount on offer for six-month loans with an interest rate of 0.75 percent, under the central bank's Extended Collateral Term Repo
Under the Extended Collateral Term Repo
and Funding for Lending, around [pounds sterling]100bn will be made available to banks in the form of cheap loans, to offer a "significant financial incentive" to lend to the wider economy.
The new bail out came in the form of the Bank of England's 'Extended Collateral Term Repo
Meanwhile the ECB may choose to cut interest rates, hint at additional easing actions, introduce longer liquidity operations, and provide softening banking collateral rules just like the Extended Collateral Term Repo
Facility that the BoE has proposed.
: Any repo transaction with an initial maturity longer than one business day.
The Hong Kong Monetary Authority said Monday it will allow increase in interbank liquidity and introduce a term repo
facility to tackle any potentially excessive tightness in the money market that might arise from Year 2000-related issues.
The term repo
from December 31 totaled $41.8 B with 17 counterparties.