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We Have The First Trillion Dollar Reverse Repo
It's official: at exactly 1:15pm today, the NY Fed reported that for the first time ever, 86 counterparties parked over $1 trillion in reserves at the Fed's Reverse Repo Facility for overnight 'safekeeping' and collecting a nice, fat yield of 0.05% - representing hundreds of millions in absolutely free money as these are reserves that the Fed has previously handed out to banks - for free - who then turned around and handed it right back to the Fed where it collected a small but nominal interest. chart Of course, it is month-end (if not quarter-end) so we do get some window-dressing but even without it, it's only ... (full story)
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- Jul 30, 2021 3:38pm Jul 30, 2021 3:38pm
- puddinskins
- | Joined Jun 2020 | Status: Junior Member | 4 Comments
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- Jul 31, 2021 6:14am Jul 31, 2021 6:14am
- RossEdwards
- Joined Jun 2019 | Status: Member | 3299 Comments
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