Banks tap Fed Standing Repo Facility in record numbers amid month-end pressures

The Federal Reserve loaned a record level of cash from its Standing Repo Facility Friday as short-term funding markets navigated month end pressures.

In the second of two operations, the Standing Repo Facility lent $30 billion to eligible financial firms, after lending $20.35 billion in an SRF operation earlier in the day. Month end often brings volatile and transitory needs for liquidity from market participants.