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NSFR opens up new front in war on repo

The US Federal Reserve wants to make repo trades more expensive and views still-pending rules on bank funding as one policy lever. However, a new draft of those rules goes too far, banks argue, potentially driving up costs by more than 850%. Lukas Becker reports

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US Federal Reserve

If the repo market was a cartoon character it would be Scratchy, the unfortunate cat in occasional episodes of The Simpsons. If Scratchy avoids falling into a vat of acid, it means a swarm of flesh-eating bees is just round the corner; if he then leaps into a taxi to avoid them, an even worse fate lies in store. Of course, when all of this happens to an animated cat, it's funny, but those in the

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