© Reuters. FILE PHOTO: A male passes by the Federal Reserve Bank of New York in New York City, U.S., March 13,2023 REUTERS/Brendan McDermid/File Photo
By Michael S. Derby
NEW YORK (Reuters) – The Federal Reserve Bank of New York stated on Friday it accepted $1.018 trillion at its overnight reverse repo center, as inflows to the main bank liquidity center rose on the last trading day of the year.
Friday’s inflows were anticipated to dive and were well above the $829.6 billion seen on Thursday. Friday’s inflows were the veryfirst time above $1 trillion consideringthat Nov.13
The Fed’s reverse repo center exists to put a flooring below short-term interest rates and is a secret tool in the Fed’s efforts