Like a deadly virus, but to infect everything and everyone. The sorcerors couldn’t stand being away:
Big banks’ demand for central bank cash remained very strong on Wednesday, leading the Federal Reserve Bank to add a fresh $100 billion to the financial system.
The Fed added the money via what’s called an overnight repurchase agreement operation, or repo. Eligible banks, called primary dealers, sought $111.48 billion from the central bank, exceeding the $100 billion cap the Fed places on overnight repos.
When a $100 BILLION!!! (OVERNIGHT!) falls short.