Fed fund and repo borrowings top $1trn at big banks in Q2
US bank holding companies (BHCs) and foreign intermediate holding companies (IHCs) of more than $100 billion in size held $1.2 trillion of borrowed fed funds and cash obtained through repo as of end-June.
JP Morgan was the biggest borrower of the 37 BHCs in this group, with $201.7 billion (16.8%) of the total. It was followed by Bank of America Merrill Lynch (BAML) with $195 billion (16.2%), and Citi with $181.1 billion (15.1%).
HSBC was the biggest IHC borrower, with $102.5 billion
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