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New York Fed says reverse repo inflows hit highest level since start of year

Reuters
FILE PHOTO: The Federal Reserve Building in Washington

NEW YORK (Reuters) - The quarter end saw substantial inflows into the Federal Reserve Bank of New York's reverse repo facility on Friday.

The bank reported inflows into a tool designed to set a floor underneath short-term interest rates stood at $664.6 billion, the highest level since $680 billion seen on Jan. 10.

Quarter end frequently brings substantial increases at the reverse repo facility and that cash usually moves out once the new quarter starts.

(Reporting by Michael S. Derby; Editing by Chris Reese)