Keeping you up to date on the latest data releases.
Maiden Lane I made a monthly payment of over $600 million on its loan from the New York Fed this week, bringing the outstanding balance down to just under $27 billion. After six weeks of drawing $60 million of 7-day swaps, the European Central Bank (ECB) upped the ante this week on its liquidity swap line. The ECB drew $560 million of 7-day swaps this week, the largest amount outstanding for the bank since early August. Nearly $14 billion of agency debt and mortgage-backed securities (MBS) left the balance sheet over the past two weeks, all of which was replaced by Treasury securities. Up to this point, the New York Fed has purchased nearly $60 billion of Treasury securities since the August Federal Open Market Committee meeting statement announced the initiation of the Fed’s Treasury reinvestment program. The New York Fed has also conducted a series of five reverse repurchase agreement operations as per its October 12 announcement. The operations totaled $889 million and have used Treasury securities, agency debt, and agency MBS as collateral.