“We’re set up as a broker-dealer, majority of deposits are actually held not in a bank's balance sheet, but actually in securities and money market funds that the customer owns”
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Said on Run the Numbers
Brij Khurana · Alpha Exchange · Brij Khurana, Fixed Income Portfolio Manager, Wellington
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compares Fed balance sheet sizes to assess central bank responsibility
$6 trillion vs $20 trillion
“We’re set up as a broker-dealer, majority of deposits are actually held not in a bank's balance sheet, but actually in securities and money market funds that the customer owns”
“Central banks have been buying at a pace that's 5x the pre-2022 average”
“Introduction of a new China central bank-type tool requiring banks to set aside cash with the Reserve Bank of India for some foreign exchange transactions”
“There’s a PayPal account. I believe there is a PayPal account. It’s on our balance sheet. There’s $200,000 in it. We’ll count that as good.”
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