Reply #20: The Red Ink Increases

[Celebration]

Thought I would briefly update this thread--

http://www.federalreserve.gov/releases/h3/Current/

It looks to me like the non borrowed bank reserves are now minus seventeen billion, but the banks owe an additional 60 billion on top of that to the Fed (term auction facility). It looks like they have muddied the waters even more with their funky footnotes, as they don't even attempt to explain this.

Unless I am reading this incorrectly-----------------it looks like the banks had to borrow 60 billion dollars just to come up with reserves of 43 billion dollars.

The footnotes don't make this clear at all of course. At least the last time we looked at this we could kinda sorta figure it out.