Keeping you up to date on the latest data releases.
Over the course of February, the New York Fed sold the remaining securities held in the Maiden Lane II portfolio. During the month, securities with a current face value of $12.2 billion were distributed to Goldman Sachs and Credit Suisse through a competitive auction. The sales will result in the full repayment of the $19.5 billion loan extended by the New York Fed and generate a net gain for the benefit of the public of approximately $2.8 billion.
The tentative schedule for outright Treasury operations for the month of March was released at the end of February, with an announced schedule of $44 billion of purchases and $43 billion of sales. Also, it was announced at the end of the month that the New York Fed would conduct another series of small-scale reverse repo operations using all types of available collateral. The operations were scheduled to ensure that the new set of counterparties—8 banks and 2 new primary dealers—was properly set up to process the transactions. Outstanding balances on the central bank dollar liquidity swaps remained fairly constant over the month, hovering near $110 billion.