Fed’s reverse repo facility plummets to lowest level in nearly three years
NEW YORK (Reuters) -A key Federal Reserve facility that takes in cash from money market funds and others saw inflows drop sharply on Monday. The U.S. central bank’s reverse repo facility took in $327.1 billion, down $80.2 billion from Friday, marking the lowest level of inflows since the facility took in $293 billion on May 19, 2021. The Fed’s reverse repo facility exists to put a floor underneath short-term rates, taking in cash from eligible firms in loans collateralized with Treasuries held by the central bank.
Reuters•
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