Keeping you up to date on the latest data releases.
- Federal Reserve Balance Sheet
This week’s data release had a few interesting changes to note. First, Maiden Lane I started to repay the New York Fed for the loan that it was extended on July 15, 2008. According to the contract, the loan was set to begin being repaid two years after the loan was made. Second, Japan drew an extra $1 million from their central bank liquidity swap line this week. The draw was for an 84-day term at a rate of 1.21 percent. Third, as the New York Fed works to settle all of the mortgage-backed security (MBS) purchases that were supposed to have been completed by the end of March, the trend in the agency debt purchases has been a steady decline since the program’s expiration. The balance of those purchases (which peaked at $175 billion) has now fallen below $160 billion. In terms of settling the MBS purchases, there were no coupon swap or dollar roll operations this week. As for the liabilities, there was a $33 billion jump in the Treasury’s general account this week. Also, the results of the third TDF small-scale operation were accounted for in the balance sheet, bringing the total balance to $4.2 billion.