Fed Balance Sheet Drops by $42 Billion in May, Sheds MBS at Fastest Pace, Starts the Reverse of Operation Twist

At the time I wasn’t too fussed about the action as reducing a $4.4 trillion balance sheet by $10 billion a month didn’t seem all that important. But $10 billion is just a start. The Fed’s goal is to eventually reach $50 billion a month, with the program ending in 2020 having hopefully shrunk the balance sheet to $3 trillion.

Fed liquidity is shrinking at a slightly quicker pace #PBOC liquidity injections to June.. Tags aggregate , balance , banks , central , latest , major , weekly Fed Balance Sheet Drops by $42 Billion in May, Sheds MBS at Fastest Pace, Starts the Reverse of Operation Twist

Substantially all of the $4.5 trillion of assets consist of Treasuries and agency MBS. On the other side of the balance sheet, the Federal Reserve has three main categories of liabilities: $2.6 trillion of bank reserves and other deposits, $1.5 trillion of paper currency, and about $400 billion of reverse repos.

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Total assets fell by $42 billion in May, as of the balance sheet for the week ended june 5, released this afternoon. This was the balance-sheet week that included May 31, the date when Treasuries rolled off. This drop reduced the assets to $3,848 billion, the lowest since October 2013.

Fed Balance Sheet Drops by $42 Billion in May, Sheds MBS at Fastest Pace, Starts the Reverse of Operation Twist – Wolf Richter May was the first month of the Fed’s new plan of slowing QT and altering it in other ways.

Fed Balance Sheet Drops by $42 Billion in May, Sheds MBS at Fastest Pace, Starts the Reverse of Operation Twist 06-07 wolfstreet.com May was the first month of the Fed’s new plan of slowing QT and altering it in other ways.

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