The New York Fed says repo flows are again at their highest degree for the 12 months to date

The tip of the quarter was marked by massive flows into the Federal Reserve Financial institution of New York’s repo facility on Friday.

The financial institution mentioned inflows right into a device designed to set a ground beneath short-term rates of interest have been $664.6 billion, the best since $680 billion seen on January 10.

The tip of 1 / 4 typically results in a big improve within the repo facility and this cash is normally withdrawn in the beginning of the brand new quarter. (Reporting by Michael S. Derby, enhancing by Chris Reese)