Federal Reserve Bank of New York

The New York Fed’s October 23 update showed dealers’ net Treasury‑bill holdings hit a two‑year high, as money‑market funds shifted toward short‑term repo to support overnight lending. The SOFR benchmark was 3.9 % on Oct 22, up from 3.88 % on Oct 21, and the Fed noted potential pressure from the Canadian bank year‑end on Oct 30 and repo cash moving to pay mortgage‑backed‑security holders. SOFR remained at or below the 3.9 % interest‑rate on reserve balances, indicating calm overnight conditions. New York Fed operates the standing repo market at 4% to help keep the Federal funds market within the 3.75‑4% range New York Fed offers reverse repo at 3.75% to reduce reserves in the Federal funds market New York Fed performs Treasury bill purchases to maintain ample reserves when necessary New York Fed reinvests all principal payments from agency securities into Treasury bills· Entity summary generated by Graphiti