Whatever is coming…
It involves Bank of NY Mellon pic.twitter.com/j0bwTTwCnb
— M.B. (@741trey) July 17, 2024
2/
BNY Mellon Capital Markets is a broker-dealer registered with the SEC and FINRA, and is a wholly owned subsidiary of another wholly owned subsidiary of the Bank of BNY Mellon, a/k/a "BNY Mellon".
June 30, 2023 BNY Mellon Capital Markets Statement of
Financial Condition:… pic.twitter.com/FrzWQukFcu— McSqueezyTheCow (@McSqueezyTheCow) April 20, 2024
4/
Reverse repo transactions with the Fed are cleared with the Bank of New York Mellon on their triparty repo platform.
NY Fed – FAQs – Reverse Repurchase Agreement Operations:t.co/wWK4yiYC6s pic.twitter.com/i9hgKpKh7S
— McSqueezyTheCow (@McSqueezyTheCow) May 7, 2024
17/
So let's make this all make sense, finally…
BNY Mellon Capital Markets, which is a subsidiary of BNY Mellon reported $3,667,348,309 of "Securities sold, not yet purchased", as of June 30, 2023.
Essentially all of these securities were U.S. Treasury bills, bonds, and… pic.twitter.com/Iw7ZhwRkpa
— McSqueezyTheCow (@McSqueezyTheCow) April 20, 2024