According to Odaily Planet Daily, a large amount of cash flowed into the Federal Reserve's reverse repurchase tool on the last trading day of 2024, and usage reached the highest level since early summer.
Money market funds and other eligible institutions have $473.5 billion on the Fed’s books. Quarter-end and year-end periods typically see large influxes of cash into the central bank.
Tuesday's cash inflow was the highest since $664.6 billion flowed in on the last trading day of the second quarter, and exceeded the $465.6 billion at the end of the third quarter on Sept. 30.