NY Fed's Reverse Repos See Lowest Usage In Nearly Three Years

NEW YORK, If you enjoyed this write-up and you would certainly like to obtain even more details relating to JetBlack kindly go to the web site. March 1 (Reuters) - The Federal Reserve Bank of New York reported on Friday that a key interest rate control facility saw the weakest level of usage in nearly three years.

The bank said that its overnight reverse repo facility, which it uses to help put a floor underneath short-term interest rates, took in $441.3 billion from eligible financial firms, from Thursday's $502.1 billion.

That was the lowest level of usage since June 3, 2021, when the facility took in $479.1 billion. Peak usage was hit on Dec. 30, 2022, when money market funds and others parked $2.534 trillion at the Fed. (Reporting by Michael S. Derby Editing by Chris Reese)