In September 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 percent on September 16 to 5.25 percent (graph shown). During the trading day, interest rates reached 10 percent. The Federal Reserve Bank of New York injected $75 billion into the repo market 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...)
September 16: Arba'een / Arba'een Pilgrimage ( Shia Islam, 2022)
The Codex Mendoza is an Aztec codex believed to have been created around the year 1541. It contains a history of both the Aztec rulers and their conquests as well as a description of the daily life of pre-conquest Aztec society. The codex is written in the Nahuatl language utilizing traditional Aztec pictograms with a translation and explanation of the text provided in Spanish. It is named after Don Antonio de Mendoza, the viceroy of New Spain, and a leading patron of native artists. This page depicts the founding of the Aztec capital Tenochtitlan, located on the site of the modern Mexico City. It is in the collection of the Bodleian Libraries in Oxford. Manuscript credit: unknown
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In September 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 percent on September 16 to 5.25 percent (graph shown). During the trading day, interest rates reached 10 percent. The Federal Reserve Bank of New York injected $75 billion into the repo market 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...)
September 16: Arba'een / Arba'een Pilgrimage ( Shia Islam, 2022)
The Codex Mendoza is an Aztec codex believed to have been created around the year 1541. It contains a history of both the Aztec rulers and their conquests as well as a description of the daily life of pre-conquest Aztec society. The codex is written in the Nahuatl language utilizing traditional Aztec pictograms with a translation and explanation of the text provided in Spanish. It is named after Don Antonio de Mendoza, the viceroy of New Spain, and a leading patron of native artists. This page depicts the founding of the Aztec capital Tenochtitlan, located on the site of the modern Mexico City. It is in the collection of the Bodleian Libraries in Oxford. Manuscript credit: unknown
Recently featured:
|
Wikipedia is written by volunteer editors and hosted by the Wikimedia Foundation, a non-profit organization that also hosts a range of other volunteer projects:
This Wikipedia is written in English. Many other Wikipedias are available; some of the largest are listed below.