Keeping you up to date on the latest data releases.
- The Federal Reserve Balance Sheet
Maiden Lane II and Maiden Lane III each repaid a portion of their loan from the New York Fed this week. The outstanding balance on the loan to Maiden Lane II was reduced to $13.87 billion and the balance for Maiden Lane III dropped to $15.11 billion. Following the Federal Open Market Committee (FOMC) statement on Tuesday, the New York Fed released a tentative schedule for Treasury purchase operations, which extends through mid-September. Looking at the balance sheet release, $2.88 billion in agency debt is expected to mature within the next 15 days. Another $6.82 billion will mature by early November, but to put the totals in perspective, there will be $19.07 billion in Treasuries maturing within 15 days and another $13.04 billion by early November. Also, as outlined in a statement made by the New York Fed, reverse repurchase agreements were conducted with primary dealers using agency mortgage-backed securities (MBS) over the past week. The operations were done as a matter of prudent planning and on a small scale, totaling only $231 million.