Economic news
Final day of quarter sees cash surge into reverse repo facility
2024.09.30 13:43
By Michael S. Derby
NEW YORK (Reuters) – The Federal Reserve Bank of New York said Monday that eligible firms parked the highest level of cash in its reverse repo facility since late June, in a move almost certainly tied to the close of the quarter.
The bank said $465.6 billion was placed in its reverse repo facility, the highest level of inflows seen since the end of the last quarter, when on June 28 reverse repo usage stood at $664.6 billion.
