Why are banks still so desperate for liquidity even though the Fed has now made clear the Fed's balance sheet will expand to accommodate all reserve needs
"The launch of these new services will be noisy. There may be some modest headwind to our near-term growth, and we have tried to factor that into our guidance..."
Did JPMorgan intentionally collapse liquidity in funding markets, setting off a chain reaction that culminated with the Fed resuming QE4 less than a month later?