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

The top of the quarter was marked by giant 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 flooring beneath short-term rates of interest have been $664.6 billion, the very best since $680 billion seen on January 10.

The top of 1 / 4 usually results in a big enhance within the repo facility and this cash is normally withdrawn in the beginning of the brand new quarter.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