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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
Bank reserves crept up by $121.6bn in the week to Apr 28 to $3.89trn, while the Treasury's account balance at the Fed data (TGA) dipped by $48.2bn to $967.8bn, Federal Reserve balance sheet data released Thursday showed.
- The previous week was notable for the first increase in the TGA since mid-Jan alongside a fall in reserves - the overall trend is expected to remain a large drop in the TGA over the coming months, with reserves rising sharply (and suppressing short-end rates). See chart.
- Reverse Repo liabilities also increased sharply, by $80.1bn, to $382.9bn.This included $166.7bn in non-foreign official RRPs, which rose again to $173.5bn the following day as reported by the NY Fed (sequentially those were the highest takeups since March 2020).
Federal Reserve, MNI
| Liabilities | Reserves | US Treasury General Account | Reverse Repo | Currency In Circulation | Other |
| Last Week's Net Change (USDbn) | 121.56 | -48.21 | 80.10 | 2.92 | -196.36 |
| 4-Week Net Change (USD bn) | 216.32 | -58.04 | 30.71 | 22.51 | -139.42 |
| Total Holdings (USD bn) | 3889.02 | 967.69 | 382.89 | 2161.14 | 380.22 |
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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