A key short term lending market came under strain in September, raising concerns that the Federal Reserve's attempt to unwind post-financial crisis intervention may have gone too far. The FT's Joe Rennison explains what has been going on in the repo market. 

Further reading:

How the Federal Reserve could fix the repo market:

https://www.ft.com/content/33674380-e4f4-11e9-9743-db5a370481bc

Fed wrestles with role of regulation in repo squeeze:

https://www.ft.com/content/45a9c196-e231-11e9-9743-db5a370481bc

New York Fed rejects Wall St criticism of response to repo turmoil:

https://www.ft.com/content/c267a2f4-dd3e-11e9-9743-db5a370481bc

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