[ragnot]

Thank you for this. I learned something new today. Any books/websites you could recommend to learn more about this sort of stuff?

[MatteoFrigo]

Good question. Those who understand this stuff (not me) are busy making money and don't write about it. Nevertheless, I think that these papers [1,2] by Pozsar offer a fabulous overview of the contemporary money market.

[1] https://www.financialresearch.gov/working-papers/files/OFRwp...

[2] https://www.newyorkfed.org/medialibrary/media/research/staff...