Everyone should go listen to Bloomberg's Odd Lots podcast. They have lots of recent episodes that dive into repo markets very clearly. tl;dr Banks have money i

Everyone should go listen to Bloomberg's Odd Lots podcast. They have lots of recent episodes that dive into repo markets very clearly. tl;dr Banks have money in the Fed that they normally loan each other over night. This is mostly money they are keeping in reserve. At quarterly period ends, taxes and other payments are due so the big banks can't provide the same amount of repo loans so the Fed steps in to do the lending instead. Non story, click bait.