Points of view

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For a two-week period in mid March 2020, funding markets experienced severe turbulence, with spillovers affecting many corners of the financial system. We provide an overview of the current situation in funding markets and discuss the main drivers behind the stress seen in March, the impact of policy interventions and vulnerabilities going forward.

Important information:

https://www.bnymellonim.com/outlook/global-disclosure/

GU-0048, IS-122846

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