New York Fed's reverse repo facility sees cash surge on last day of Q3

NEW YORK (Reuters) -The New York Federal Reserve said eligible firms on Monday parked the largest amount of cash in its reverse repo facility since late June, in a move almost certainly tied to the end of the third quarter. The regional Fed bank said $465.6 billion was placed in its reverse repo facility, the highest level of inflows since the end of the last quarter, when on June 28 reverse repo usage stood at $664.6 billion. Quarter-end dates generally see surging inflows that quickly abate, and that's what analysts and market participants expect to see happen this time.