Top Tweets for #IOER
@EricSmi92780239 @jbhearn @RealMacroEcon @emmanuelokware_ @JamesYo43532848 Yep , the Fed started paying #IORR & #IOER in 2008 to make sure the banks didn't run down reserves , as they were creating abundant reserves, to ensure they stayed as reserves to support the frozen interbank market and hence support bank's balance sheets . BOE did as well >
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@JetFBaker @jbhearn No they don't directly , but an increase in the quantity of reserves can .To help you , Central Banks pay #IOR and did pay #IOER , this is costly , why do they do it ?
Answer that and you will begin to understand .
Time to reduce #IOER or get rid of it altogether , just a transfer from Taxpayers to commercial banks
JP Morgan made a quarterly profit of $12.9bn
@BertieFigueres @EricSmi92780239 @jbhearn Yes that's right , in the US they had
#IOR interest on reserves(required)
#IOER interest on excess reserves ,
paid at different rates , they then unified the rates during Covid . I don't know when the BOE started paying #IOR , they did pay #IOER post 08 >
@JohnfrmClevelnd @jbhearn @robox1234 @wildcatbanker @Economics21st @dishonestmoney @HenricCont @BillWard60 @sioneill @SamHLevey @CascadiaEric @robert19pearson @AlanDownunder @fflorescpa @Andrew_DK @richyphillips @samvega @barua_ashish @PhilArmstrong58 @HarrisonChase6 @MikeH_001 @ANGTraders @Kathryn85156324 @LumCalvin @katiecannon2 @ETadpole @NaomiLWood @KimDriver11 @stefan_demetz @billy_blog @BichlerNitzan @ProfSteveKeen @steve_hanke Forget banks creating loans based on it , the reserve REQUIREMENT was 10 % so banks naturally loaned up to that to maximise profits.
The Fed then went to a "floor system " of abundant reserves, using other instruments #IOER #IOR .
Because the relationship changes doesn't >
September 2023 was special as we had the opportunity to meet our alumni and share knowledge on #sustainable #FoodSystems and #ForestProducts, at the #Tropentag conference.
https://t.co/xzrBU1BJtu
#UNEP #UNESCO #BMUV #UBA #TUD #CIPSEM #INREM #DAAD #BMZ #IOER #UNUFLORES
It is way worse than this. Federal Reserve Bank was paying out tens of billions per month to large US banks parking trillions combined at #reverserepo & #IOER. Reverse repo is down below $2 trillion now, but further #ratehikes exacerbate how cash flow negative Fed is
The Fed used to remit profits to the US Treasury.
Now, thanks to fewer assets and higher rates, it's racking up a tab.
But hey, what's $77 billion between friends?
Fed cannot hike rates much more. They will not cut rates quickly though. The Fed is actually hemorrhaging cash & is deeply cash flow negative now paying out on reverse repo & #IOER. US gvmnt finances are a total mess. Worse if asset prices crash & stay low. #FedRateHikes
@mike_lucullus @ParkersPlaster1 @buckingfankers @brianbloop2 @HenricCont @Davidmetroland @SwearingForex @PerKurowski @Chr1s_not_a_bot @ThomasSirianni2 @StewartButton @janineyve @tripleGGGx @jbhearn @mindedmusically @Barrtecforever @David11359148 @Ellis_Greenwood @ETadpole @DilipShah_ @NaomiLWood @QE4_Countdown @caronano @HarrisSamaras @shuma0963 @arthur_eckart @NC798322 @andrewtytko @GeoffreyKeey @The_Leaver @ShaneJa16905901 @helgy2 @CharlieCarlsbad @ThisCharminManc @BarbaraHearn @Enea_H @drsparwaga @SvarfvarSea @sioneill @PhilArmstrong58 @Matt_GS @ChrisEv06631592 @ShaytanTruth @FistsFaceBrace @KimDriver11 @Jo_HNGalt @RedOnWight @JadedJourney Yes that's what I thought ,but I thought the reverse happened with #IOER and now #IORB . @themoneyenigma wrote something about it a few years back ,I think @GeorgeSelgin knows , but he doesn't follow me anymore so I will have to find it .
We're now at $3.1T of excess reserves x Fed Funds of 4.0% = ~$120 billion windfall to banks from IOER
Compare to ~$107B in aggregate profits for the 50 largest US banks in 2022.
#FederalReserve #IOER
Thoughts @NickTimiraos @vtg2 @steveliesman?
@endless_frank How about a little thing called the interest the FED pays on excess bank reserves?... #IOER that's a way for them to make money doing nothing!...
Its postdoc appreciation week. Here is a big thank you 👏 to our very own post-docs at #IOER who support the PhD candidates at all steps 🤗 @neelakshijoshi @DrJMorris14
#PostdocAppreciationWeek #postdoclife
/3
...that excess buffer btwn $1T actual LCLoR and $2T FOMC target is @josephwang's "Reserve Gap":
"The Fed directly added reserves in 2019 by purchasing Tbills, but purchases today would [be counterproductive during] QT. [The best] option would be [a] cap on RRP"
#ioer #mmf
![AnthPB's tweet photo. /3
...that excess buffer btwn $1T actual LCLoR and $2T FOMC target is @josephwang's "Reserve Gap":
"The Fed directly added reserves in 2019 by purchasing Tbills, but purchases today would [be counterproductive during] QT. [The best] option would be [a] cap on RRP"
#ioer #mmf https://t.co/BKLUDg3jZK](https://pbs.twimg.com/media/FcFC8G-XwAQz-QK.png)
@MetreSteven Did they have a desire to be in the direct to corporate credit model at the beginning of 2020? 😉
I don’t think any of us can say definitively what they want.
But what we do know is they’re willing to bend/ignore their rules and change how they operate. #IOER #SPV
"OER rests at the intersections of multiple innovations." @ProfJasmine #IOER @aacu #oer #InnovationDiffusion
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