Matthew McCormick

Domestic banks are inelastic providers of marginal funding to repo markets As system liquidity declines and rates of return rise, new types of participants enter repo markets as lenders, although some may not be able to reliably deploy cash in the early morning when markets ...

I have a piece up explaining one of the important drivers of repo volatility as reserves decline. www.dallasfed.org/research/eco...

Network structure of money markets and firms affects policy transmission Understanding the underlying network structure of money markets provides valuable insights for monitoring reserve scarcity and its evolution in response to regulatory and market changes.

Wrote a background piece on money markets and policy transmission

This piece comes out at 7 AM tomorrow. I'm extremely happy with it (though of course not the story itself!) and I have a number of great quotes from former government officials, and an official quote from ‪@warren.senate.gov.

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This is a really great short memoir of Michelle White's time in economics. I had no idea (but should've) how ground breaking her presence was in the field

econweb.ucsd.edu/~miwhite/sca...

Proportionate margining for repo transactions The Federal Reserve Board of Governors in Washington DC.

My colleague Jay Kahn and I wrote something on how to think about setting appropriate margin levels in bilateral repo transactions.

www.federalreserve.gov/econres/note...

Hi MaryCate. Thank you for your engagement in these issues. Unfortunately I’m not your senator, Dave McCormick, I’m just some random guy.

I am not posting very actively so here’s my one good tweet from the old place