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MNI Fed Balance Sheet Tracker - Mar 24, 2023

MNI Fed Balance Sheet Tracker - Mar 24, 2023

MNI Fed Balance Sheet Tracker - Mar 24, 2023

EXECUTIVE SUMMARY:

  • In light of the Fed’s response to ongoing banking sector turmoil this month, MNI has resumed publication of the Fed Balance Sheet Tracker, including a new section on “emergency” lending/liquidity facilities.
  • The standout surprise in yesterday's weekly Fed balance sheet release was the sharp rise in takeup of the Foreign and International Monetary Authority repo facility, with counterparty unknown.
  • In spite of some market speculation that the Fed's quantitative tightening program could end soon, Chair Powell's comments at this week's FOMC meeting press conference suggest QT is likely to continue at its current pace for some time yet.

    For full PDF analysis:

    FedBalanceSheet-Mar242023.pdf




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