Shadow banks grew net repo claims to record $2.1trn in 2021 – FSB

Non-bank intermediaries, led by money market funds, tapped Fed’s reverse repo window as rates began their ascent

Non-bank financial institutions (NBFIs) built up outsized repo exposures after the Federal Reserve took its first liquidity-draining efforts 18 months ago, data from the Financial Stability Board (FSB) shows – preluding to yet more take-up as the Fed further tightens its monetary policy.

Net repo positions by financial intermediaries other than central and commercial banks, insurers, pension funds and financial auxiliaries rose from $400 billion to $2.1 trillion over the course of 2021, with

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here