CME stockpiles cash at Fed
CME Clearing deposited more than $28 billion of its cash to the Federal Reserve over the course of 2017 while drawing down its deposits and reverse repo trades with commercial banks and offloading billions of dollars’ worth of securities.
The Chicago-based clearing house more than quadrupled its stash of dollars at the US central bank from $6.2 billion to $34.3 billion. Over the same period, it cut secured cash at commercial banks by 85.5%, from $2.2 billion to $311 million, and unsecured cash
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