off-the-wire

Final day of quarter sees cash surge into reverse repo facility

Kitco Media
By Reuters
Published:
Updated:
Reuters
Final day of quarter sees cash surge into reverse repo facility teaser image

NEW YORK, Sept 30 (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.

Reporting by Michael S. Derby; editing by Jonathan Oatis

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.