Use of the Federal Reserve’s foreign reverse repurchase agreement facility by other central banks has risen for a third consecutive week as policymakers build cash positions ahead of moves to boost their currencies. Foreign central banks moved $365 billion in cash and $11.6 billion in Treasury securities into the facility during the week ending Wednesday, bringing total holdings up to $2.95 trillion.
The full article is available at https://www.bloomberg.com/news/articles/2024-04-04/use-of-fed-central-bank-tool-grows-as-cash-stockpiling-continues