NY Fed’s reserve repo facility marks new record
Banks and funds park almost $1 trillion with New York Fed accounts paying 0.05%
The Federal Reserve of New York’s overnight reverse repo facility has set a new record deposit level.
The facility took in $991.9 billion in short-term deposits from 90 counterparties on June 30. That figure was nearly 18% larger than the previous record, set only the day before, when the reverse repo window took in $841.2 billion.
The overnight reverse repo facility accepts short-term deposits from banks. It also deals with other financial institutions like government-secured entities like
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