It seems that some banks just decided to stop funding the overnight and short term repo needs of some other banks. There's lots of speculation about why. [1] 1

It seems that some banks just decided to stop funding the overnight and short term repo needs of some other banks. There's lots of speculation about why. [1] 1. https://wallstreetonparade.com/2019/12/bis-drops-a-bombshell-four-u-s-mega-banks-are-core-of-repo-loan-crisis/ https://wallstreetonparade.com/2019/12/bis-drops-a-bombshell...