Net outflows from US money market funds, and usage of Fed rescue tools surges again
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In the beginning of the new year, the assets of the US money market funds experienced a net outflow of $5.961 trillion. The Federal Reserve's balance sheet continued to shrink, while bank reserves rebounded, consistent with the increase in US stock market value. Last week, the usage of the Federal Reserve's bank rescue tools surged to a record high of $162 billion. The Bank Term Funding Program (BTFP) may end the bank rescue plan in March.
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