Quarles Concedes Fed Might Be Part of the Problem in Repo Crunch

Bloomberg, Dec. 4, 2019–Jesse Hamilton
Vice Chairman Randal Quarles agreed Wednesday that Fed supervisors have potentially created an impression that banks should prize cash reserves over stockpiled Treasuries when the firms try to keep their levels of liquidity above regulatory minimums.
https://www.bloomberg.com/news/articles/2019-12-04/quarles-concedes-fed-might-be-part-of-the-problem-in-repo-crunch