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Reuters
Fed reverse repo facility hits record $2.554 trillion
A key facility the Federal Reserve uses to help control short-term interest rates saw record inflows on Friday, the final trading day of the year. The New York Fed said that its reverse repo facility took in $2.554 trillion in cash from money market funds and other eligible financial firms, besting the prior high water mark seen on Sept. 30, when inflows totaled $2.426 trillion. On those dates, for a variety of reasons, many financial firms prefer to park cash at the central bank rather than in private markets.
