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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
FED
Fed balance sheet growth took a breather in the week to Wednesday Jun 30, ending the quarter with a weekly $23.4B drop in assets. This was mostly due to net declines in MBS, offset by higher nominal/TIPS bond holdings, and 13-3 and liquidity facilities.
Source: Fed, MNI
- While 13-3 facilities rose by $3.5B in size (entirely on a rise in the Paycheck Protection Program Liquidity Facility), the Fed closed the books on the Commercial Paper Funding Facility in the last week, by returning the Treasury's equity capital ($8.5B).
- The facility had been unused since summer 2020 so its official closure will have little impact; likewise it will have little impact on the balance sheet, as the cash was ultimately transferred back and forth between the Fed and the Treasury's account at the Fed.
| Assets | Total | Nominal Tsys | TIPS | Bills | MBS+Agencies | 13-3 Facilities | Liquidity Facilities | Other* |
| Last Week's Net Change (USDbn) | - 23.4 | 15.4 | 3.6 | - | - 34.5 | 3.5 | 4.5 | |
| 4-Week Net Change (USD bn) | 142.8 | 50.4 | 10.0 | - | 75.4 | 5.9 | 6.3 | |
| Total Holdings (USD bn) | 8,078.5 | 4,449.3 | 352.9 | 326.0 | 2,322.0 | 147.1 | 91.6 | 389.6 |
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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