Week seven since peak balance sheet: Total assets on the Fed’s balance sheet for the week ended July 29, released this afternoon, fell by $16 billion from the prior week, to $6.95 trillion. Since June 10, when they’d hit $7.17 trillion, they have declined by $220 billion After the Fed made repurchase agreements less attractive in mid-June by raising the bid rate, they fell out of use, though the Fed is still offering them: The Fed’s “dollar liquidity swap lines” – which provided other central banks with dollars during the crisis – are falling out of use, though the program itself has been extended, just in case. This ... (full story)