New York Fed says reverse repo inflows hit highest level since start of year
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New York Fed says reverse repo inflows hit highest level since start of year
NEW YORK (Reuters) - The quarter end saw substantial inflows into the Federal Reserve Bank of New York's reverse repo facility on Friday.
The bank reported inflows into a tool designed to set a floor underneath short-term interest rates stood at $664.6 billion, the highest level since $680 billion seen on Jan 10.
Quarter end frequently brings substantial increases at the reverse repo facility and that cash usually moves out once the new quarter starts.
