Keeping you up to date on the latest data releases.
- Federal Reserve Balance Sheet
After climbing to what would seem a more appropriate level last week, the central bank liquidity swap lines fell from $9.2 billion to $1.2 billion. What is more interesting is that the amounts drawn this week were for three-month swaps with both the Bank of Japan and the European Central Bank. It appears as if there is no urgent need for dollar funding abroad. Of note in domestic markets is the fact that Discount Window lending has fallen for the twentieth consecutive week, which includes every week in 2010. This reduction in activity at the Discount Window signals a shift back into private market borrowing for some of the most troubled institutions in the financial crisis. Total outstanding Discount Window loans now stands just below $5 billion. There were no remarkable shifts in Federal Reserve liabilities this week due to the release being issued in the middle of a reserve maintenance period.