The Federal Reserve foreign repurchase balance rose to $373 billion, a new high since October 2022

AS AT 19 AUGUST, THE LEVEL OF FUNDS HELD BY FOREIGN AGENTS IN THE FEDERAL RESERVE'S REPURCHASE TOOL (RRP) HAD RISEN TO $373 BILLION, UP FROM $357 BILLION A WEEK EARLIER. SINCE 5 AUGUST, THE USE OF THE TOOL HAS INCREASED CUMULATIVELY BY SOME $56 BILLION, REPRESENTING THE LARGEST INCREASE OF TWO WEEKS SINCE OCTOBER 2022。