Bank Reserves: What are they and why a shortage matters 🏦

Bank reserves are normally obscure, even to bankers and professional investors. But last week, they hit the news when a shortage of them caused a key measure of borrowing costs—known as the overnight repo rate—to spike. This is a super interesting piece one of my best friends who is also a massive finance nerd (shout-out Sanchit!) sent me that does a great job of explaining a key piece of the economy. #interesting


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