Keeping you up to date on the latest data releases.
- Federal Reserve Balance Sheet
The central bank liquidity swaps took effect this week. Only the European Central Bank had an outstanding balance as of May 12 and it was already up to $9.2 billion. Expectations are for the outstanding balances on the swap lines to remain well below the previous peaks seen a little more than a year ago. The swap lines are scheduled to be available through January 2011. Balances in the Commercial Paper Funding Facility have all but rolled off, falling $2.8 billion to just $2 million this week. Also, the special purpose vehicles Maiden Lane II and III repaid a portion of their loans from the New York Fed, following their monthly repayment schedule. The outstanding balances on those loans are now $14.5 billion for Maiden Lane II and $16.2 billion for Maiden Lane III. On the liabilities side, it seems as if the wave of tax receipts has subsided, with the Treasury general account dropping nearly $42 billion this week.