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MNI Fed Balance Sheet Tracker - April 14, 2023

FED

In the latest sign of relief for the US banking sector following March’s turmoil, Fed balance sheet data shows that banks paid back some of their recent “emergency” borrowing.

  • We would still expect takeup of the Fed's new Bank Term Funding Program to increase over the coming months, given its generous terms, but some of the early analyst estimates for the eventual size may prove to have been overblown.
  • With the Treasury's account at the Fed nearly depleted, the April 18 tax deadline looms large.
  • Full analysis in PDF here

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