Fed reverse repo demand tops $1 trillion

New York Fed
New York Fed
Photo: Flickr/Jazz Guy

The Federal Reserve Bank of New York reported on July 30 that it had received $1.04 trillion in bids for its overnight reverse repurchase (ON RRP) facility, a new high.

The ON RRP window came close to $1 trillion in transactions on June 30, when it recorded a then-record $991.9 billion. That figure resulted from non-banks parking money with the Fed, as their normal banking customers outside the US were reducing leverage ahead of reporting requirement deadlines.

Media reports indicate that the

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