Volume at the U.S. Federal Reserve’s reverse repurchase facility topped $1 trillion on Friday for the first time as investors and financial institutions continued to pour cash into the overnight window.
Demand for the Fed’s reverse repo facility has surged as the U.S. debt ceiling looms, the Treasury department cuts down on its bill issuance and financial firms struggle to find places to invest their excess cash.
The full article is available at https://www.reuters.com/article/usa-fed-reverse-repo/update-1-u-s-fed-reverse-repo-volume-hits-record-1-trillion-as-debt-ceiling-looms-idUSL1N2P6255