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by cinquemb
1180 days ago
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The other problem with BTFP is that it makes less HQLA collateral available in the swaps market for securities with similar tenors to those locked in BTFP. In one hand you increase liquidity for the most liquid assets on bank books, and on the other hand you decrease liquidity for least liquid assets on bank books (and private holders of said securities, private $ denom debt > us gov debt). |
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