Keeping you up to date on the latest data releases.
- Federal Reserve Balance Sheet
There were very limited changes to the Fed’s balance sheet this week. The total balance has steadied between $2.3 trillion and $2.4 trillion since early in 2010 and seems to be holding near $2.37 trillion in the past few months. One minor trend of note has been the steady decline in the outstanding balance in AIG’s revolving credit facility with the Fed since the beginning of June. A relatively small decline of $2 billion has occurred over the most recent month and a half, but the trend could be signaling a return of creditworthiness to AIG. Since mid-March, the outstanding balance of the Term Asset-Backed Securities Loan Facility has also declined incrementally, falling from $48 billion to $42 billion. All of this is a sign that nontraditional lending is winding down as the recovery continues. Another $650 million in coupon swap operations were conducted this week, fulfilling the target amount of coupon swaps totaling $9.2 billion over the past three weeks. All major liabilities categories remained relatively stable.