by Current Reserve Assets at Depositories at ,612B and that is with TGA up at 0B as of yesterday close... If Treasury runs the TGA down to 0B by March 1 as they did last year that would add 0B of non-risk assets to Depositories in about the next 30 days... that future balance of Reserve assets would then be ,862B around March 1... again if they run the TGA balance back down to 0B...(Unless Treasury changes their policy this year to keep the TGA more stable throughout the month of February)I have a hard time believing Depositories are adequately planning to accommodate receipt of these additional 0Bs of non-risk assets in such a short time period if Treasury repeats last year's fiscal policy for February...
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Current Reserve Assets at Depositories at $1,612B and that is with TGA up at $450B as of yesterday close...
If Treasury runs the TGA down to $200B by March 1 as they did last year that would add $250B of non-risk assets to Depositories in about the next 30 days... that future balance of Reserve assets would then be $1,862B around March 1... again if they run the TGA balance back down to $200B...
(Unless Treasury changes their policy this year to keep the TGA more stable throughout the month of February)
I have a hard time believing Depositories are adequately planning to accommodate receipt of these additional $100Bs of non-risk assets in such a short time period if Treasury repeats last year's fiscal policy for February...