Hi Daniel, I have taken Mehrling's online course back in 2013 and it impression is lasting. In the H 4.1 release, table 1 "repurchase agreements" shows "0" zero, but in table 2 Maturity, it shows 1,267,998. That would bring the balance sheet tp over 9 Trillion. Do you know why it is not mentioned in the 1st table ". Factors Affecting Reserve Balances of Depository Institutions"? Thanks
There are two different entries. "Repurchase agreements" is an asset entry to the Fed, it appears on the first page of the H.4.1 release, and its value is currently zero. "Reverse repurchase agreements" is a liability entry to the Fed, it appears on the second page of the H.4.1 release, and its value on Aug. 11, 2021 was 1,267,998 million (i.e 1.3 trillion). The Fed's reverse repo is all overnight, through the ON RRP facility, and so all 1,267,998 million is in the "less than 15 days column" in table 2. of the H.4.1.
Hi Daniel, I have taken Mehrling's online course back in 2013 and it impression is lasting. In the H 4.1 release, table 1 "repurchase agreements" shows "0" zero, but in table 2 Maturity, it shows 1,267,998. That would bring the balance sheet tp over 9 Trillion. Do you know why it is not mentioned in the 1st table ". Factors Affecting Reserve Balances of Depository Institutions"? Thanks
There are two different entries. "Repurchase agreements" is an asset entry to the Fed, it appears on the first page of the H.4.1 release, and its value is currently zero. "Reverse repurchase agreements" is a liability entry to the Fed, it appears on the second page of the H.4.1 release, and its value on Aug. 11, 2021 was 1,267,998 million (i.e 1.3 trillion). The Fed's reverse repo is all overnight, through the ON RRP facility, and so all 1,267,998 million is in the "less than 15 days column" in table 2. of the H.4.1.
Thanks for reading!