off-the-wire

New York Fed says reverse repo inflows hit highest level since start of year

Kitco Media
By Reuters
Published:
Updated:
Reuters
New York Fed says reverse repo inflows hit highest level since start of year teaser image

NEW YORK, June 28 (Reuters) - The quarter end saw substantial inflows into the Federal Reserve Bank of New York's reverse repo facility on Friday.

The bank reported inflows into a tool designed to set a floor underneath short-term interest rates stood at $664.6 billion, the highest level since $680 billion seen on Jan. 10.

Quarter end frequently brings substantial increases at the reverse repo facility and that cash usually moves out once the new quarter starts.

Reporting by Michael S. Derby Editing by Chris Reese

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