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David Andolfatto probes risk in U.S. banks holding USTs swapped for Fed reserves

David Andolfatto probes risk in U.S. banks holding USTs swapped for Fed reserves
Risk in Fed reserve swap

David Andolfatto raises questions about the risk implications for commercial banks if they replace their holdings of U.S. Treasuries (USTs) with interest-bearing reserves provided by the U.S. Federal Reserve.

Andolfatto presents a scenario where, for economic or regulatory reasons, banks choose to hold a quantity of USTs, and the Fed subsequently replaces those securities with its own reserves. He invites discussion about the types of risk this new arrangement could introduce into the financial system.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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