Wikipedia talk:Featured article candidates/September 2019 events in the U.S. repo market/archive1

TFA blurb review

The SOFR and the EFFR (and its target range) between July 2014 and October 2019

On September 17, 2019, there was a sudden and unexpected spike in interest rates on overnight repurchase agreements (or "repos") – short-term loans between financial institutions. The interest rate on overnight repos in the United States increased from 2.43% on September 16 to 5.25%. During the trading day, interest rates reached 10%. The Federal Reserve Bank of New York injected $75 billion into the repo markets on September 17 and every morning for the rest of the week. On September 19, the Federal Reserve lowered the interest paid on bank reserves. These actions calmed the markets and, by September 20, rates had returned to a stable level. The Federal Reserve Bank of New York continued to regularly provide liquidity to the repo market until June 2020. Economists identified the main cause of the spike as a temporary shortage of cash available in the financial system, caused by the deadline for the payment of quarterly corporate taxes and the issuing of new Treasury securities. (Full article...)

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Hi JBchrch and anyone else interested: a draft blurb for this article is above. Thoughts, comments and edits are welcome. Gog the Mild (talk) 18:47, 11 August 2022 (UTC)

Hi @Gog the Mild Thank you so much for doing this. My apologies for not remembering about it. Is it ok if I take a look on Sunday? Thanks again 🙌 JBchrch talk 19:44, 11 August 2022 (UTC)

Sure. No problem. Wehwalt is scheduling September, but I don't believe they are in any undue hurry. Gog the Mild (talk) 19:59, 11 August 2022 (UTC)

I'd like to run it on the 16th if possible since NASA Astronaut Group 2 will have a 60th anniversary on the 17th. Can the blurb be recast to focus on the 16th a bit?--Wehwalt (talk) 20:27, 11 August 2022 (UTC)

@Gog the Mild Thank you again for writing this blurb. I have been overwhelmed with some stuff off-wiki, but as I look over it, I find nothing that needs to be corrected. I look forward to seeing this on the front page tomorrow. Thanks again to you and Wehwalt. JBchrch talk 18:51, 15 September 2022 (UTC)