by Mac Slavo, SHTF Plan:

Last night, amid the Fed’s H.4.1 report, we noted an unprecedented surge in foreign official Repo ($60 billion) under the Fed’s new FIMA repo facility, which means that the offshore scramble for dollars was alive and well, and someone really needed access to USD. The assumption was that it was Credit Suisse (or UBS) shoring up some shortfalls, but with the action of the last couple of days, others are worrying that there is more afoot in the EU banking system.