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On September 17, 2019, interest rates on overnight repurchase agreements (or "repos"), which are short-term loans between financial institutions, experienced a sudden and unexpected spike. A measure of the interest rate on overnight repos in the United States, the Secured Overnight Financing Rate (SOFR), increased from 2.43 percent on September 16 to 5.25 percent on September 17. During the trading day, interest rates reached as high as 10 percent. The activity also affected the interest rates on unsecured loans between financial institutions, and the Effective Federal Funds Rate (EFFR), which serves as a measure for such interest rates, moved above its target range determined by the Federal Reserve.

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  • أحداث سبتمبر 2019 في سوق الريبو الأمريكي (ar)
  • September 2019 events in the U.S. repo market (en)
  • 2019年9月美国回购市场危机 (zh)
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  • 2019年9月17日,用于金融机构间短期贷款的隔夜附買回協議利率突然发生井喷。美国衡量隔夜回购利率的9月16日还只有2.43%,9月17日就暴涨至5.25%,交易日利率一度攀至一成。金融机构间的无担保贷款利率同样受到影响,衡量此类利率的有效联邦基金利率超出美联储所定目标范围。 紐約聯邦儲備銀行紧急干预,9月17日向回购市场注入750亿美元流动资金,此后每天早上都投入750亿美元直到周末。美联储联邦公开市场委员会9月19日降低银行准备金利率,结合纽约联邦储备银行的措施终于令市场恢复平稳,利率9月20日回归稳定。此后纽约联邦储备银行继续定期向回购市场投入流动资金直至2020年6月。 危机成因尚无定论。经济学家经过分析认为,9月16日是缴纳季度公司稅的最后期限,而且美国新发国库券,共同导致金融系統临时短缺现金,银行体系准备金额度下降令局面加剧,共同导致利率大幅上扬。此外经济学家与观察人士还提出其他因素。 (zh)
  • أحداث سبتمبر 2019 في سوق الريبو الأمريكي في 17 سبتمبر 2019 شهد سعر الفائدة على اتفاقيات إعادة الشراء الليلية (أو "الريبو")، وهي قروض قصيرة الأجل بين المؤسسات المالية، ارتفاعًا مفاجئًا وغير متوقع مقياس لسعر الفائدة على اتفاقيات إعادة الشراء الليلية في الولايات المتحدة، ارتفع معدل التمويل الليلي المضمون (SOFR) من 2.43٪ في 16 سبتمبر إلى 5.25٪ في 17 سبتمبر. خلال يوم التداول وصلت أسعار الفائدة إلى 10٪. أثر النشاط أيضًا على أسعار الفائدة على القروض غير المضمونة بين المؤسسات المالية، وتحرك معدل الأموال الفيدرالية الفعال (EFFR) الذي يعمل كمقياس لمعدلات الفائدة هذه فوق النطاق المستهدف الذي حدده الاحتياطي الفيدرالي. (ar)
  • On September 17, 2019, interest rates on overnight repurchase agreements (or "repos"), which are short-term loans between financial institutions, experienced a sudden and unexpected spike. A measure of the interest rate on overnight repos in the United States, the Secured Overnight Financing Rate (SOFR), increased from 2.43 percent on September 16 to 5.25 percent on September 17. During the trading day, interest rates reached as high as 10 percent. The activity also affected the interest rates on unsecured loans between financial institutions, and the Effective Federal Funds Rate (EFFR), which serves as a measure for such interest rates, moved above its target range determined by the Federal Reserve. (en)
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