Fed Reverse Repo Facility Usage Climbs to Record $1.116 Trillion
(Bloomberg) -- The amount of cash investors are parking at a major Federal Reserve facility climbed to another record high Wednesday amid an overabundance of U.S. dollars.
Eighty-two participants placed an unprecedented total of $1.116 trillion at the Federal Reserve’s overnight reverse-repurchase facility, in which counterparties like money-market funds can place cash with the central bank. That surpassed the previous all-time high volume of $1.087 trillion from Aug. 12, New York Fed data show.
Usage on Tuesday was $1.053 trillion, with 70 counterparties.
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