Keeping you up to date on the latest data releases.
- The Federal Reserve Balance Sheet
The New York Fed added another 32 money market funds to the counterparty list for reverse repurchase agreement operations. The new additions come from 19 different investment managers, some of whom already had money market funds on the list. No operations were conducted. The Term Deposit Facility conducted a $5 billion auction of 28-day deposits. The values are not in this week’s numbers, but results have been posted showing a stop-out rate of 0.26 percent and a bid-to-cover ratio of 2.52. A total of $5.01 billion of deposits were issued. Quarterly revaluations of the three Maiden Lanes were estimated since the last balance sheet update. All three portfolios saw modest increases, with the largest jump being a $500 million addition to Maiden Lane III. After the Treasury announcement about the need to reduce the balance of the Supplemental Financing Account, the amount held at the Fed has fallen $25 billion. As a result of the SFA decline and the additional asset purchases, the balance of excess reserves has climbed $50 billion over the past two weeks. Also, the balance of securities lent to dealers and the Treasury’s General Account remained at above normal levels.