(Bloomberg) — Usage at the Federal Reserve’s facility for overnight reverse repurchase agreements Wednesday rose to a new all-time high.
Seventy-seven participants took $1.147 trillion, which exceeded Tuesday’s volume of $1.13 trillion, and the previous record of $1.136 trillion reached on Aug. 23.
The facility pays an overnight rate of 0.05%, helping to temporarily reduce the quantity of reserve balances in the banking system.
Nothing has been the same since late 2008 and shock troops from The Federal Reserve and their seemingly never-ending monetary stimulus.
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