Final day of quarter sees cash surge into reverse repo facility

09/30/2024

Less than a minute

2024.09.30 13:43

By Michael S. Derby

© Reuters. FILE PHOTO: An eagle tops the U.S. Federal Reserve building's facade in Washington, July 31, 2013. REUTERS/Jonathan Ernst/File Photo

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.

09/30/2024

Less than a minute

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