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Reverse Repo Operation, Inching Higher

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WTI Remains Bullish, on Track for Cycle High Close

     
As of: June 27, 2018
Source:  U.S. Federal Reserve Bank of New York                              
Figures in millions of U.S. dollars
                                          Fails to              Fails To
Type of Security                           receive  Change       Deliver  Change
--------------------------------------------------------------------------------
U.S. Treasury Securities (excluding
TIPS)                                        78013  -24308         73337  -17327
U.S. Treasury Inflation-Protected
Securities (TIPS)                             7714   -2661          5999   -3804
Federal Agency and GSE Securities
(excluding MBS)                               2867    1435          2277     225
Federal Agency and GSE
Mortgage-backed Securities4                  17032   -4940         16523   -7615
Other Mortgage-backed Securities              1468    -304          1977      46
Corporate Securities                         19084    -237         28612    4836
     Notes:                                                                 
                                                                       
     Delivery Fails occur when a trade fails to settle on schedule.    
There are two parties to every fail: one party fails to receive the    
security (fails to receive) and one party fails to deliver the security
(fails to deliver). Outright purchase and sale transactions can result 
in a fail. Financing transactions (securities borrowed or securities   
lent, also known as the market for collateral) may also result in a    
fail.                                                                  
                                                                       
     Aggregated fails data are aggregated across four distinct         
securities categories: Treasury Securities, Agency Securities,         
Mortgage-Backed Securities, and Corporate Securities. While fails are  
reported separately for these four categories, there is no defined     
breakdown within each category. For example, fails for Treasury bills  
are not reported separately from fails for Treasury notes.             
                                                                       
     Fails data reflect cumulative weekly aggregated 'fails to receive'
and 'fails to deliver' for the primary dealer community. Aged fails are
not reported separately from overall fails. Fails are reported at the  
amount that was to be paid or received on the day the failed trade was 
to settle.                                                             
                                                                       
     Fails in Mortgage-Backed securities include 'to be announced'     
securities where the settlement date is beyond the contractual         
settlement date.                                                       
                                                                       
     Data are not published if fewer than three dealers report financing
in this category. Figures may not add due to rounding. Data may reflect
revisions since prior publication.                                     
--MNI Washington Bureau; tel: +1 202-371-2121; email: kevin.kastner@marketnews.com
[TOPICS: MTABLE,MAUDT$,M$U$$$,M$$FI$,MN$FI$]