Following the COVID19 crisis the US government and specifically the Federal Reserve have been incredibly quick to action. Bitcoin Magazine brings you this special in an attempt to explain what the federal reserve is doing and how it affects you.
Topics:
-Fed setting up two new credit facilities where buyers on secondary market can take out loans -Fed will be buying their debt
-Primary Market Corporate Credit Facility (PMCCF), Secondary Market Corporate Credit Facility (SMCCF) and Term Asset-Backed Securities Loan Facility (TALF)**
-$1 trillion in daily repo
-Unlimited QE--early march, announced $700 billion QE ($500 bln in treasury bons, $200bnl in MBS)
-Zero interest rates
-Zero reserve requirements
-Bond yields are negative
Primary dealers: J.P. Morgan, Barclays Capital, Wells Fargo, and Citigroup. TD Securities, Morgan Stanley, Cantor Fitzgerald, and Goldman Sachs
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You can find us @BitcoinMagazine on Twitter.
Colin Harper on Twitter @AsILayHodling
Christian Keroles on Twitter @ck_SNARKs
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