New York Fed’s Latest Tool Shows Bank Reserves Still Abundant

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The amount of reserves underlying the US banking system remains plentiful, according to a Federal Reserve Bank of New York gauge that will be published monthly.

The first estimates of Reserve Demand Elasticity released on Thursday suggest that reserves were still abundant as of Oct. 11, according to the New York Fed. The data offers the latest evidence that the US central bank can keep removing liquidity from the system via its quantitative tightening program.

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