Integrated Brief

Foreign Repo Pool (Foreign Official Reverse Repo)

WLRRAFOIAL — the foreign repo pool: overnight reverse repurchase agreements the New York Fed runs for foreign official and international accounts, the same FIMA account holders who can borrow from the FIMA Repo Facility. This is the other direction. Foreign central banks park surplus dollar reserves here overnight at an administered rate instead of buying bills or leaving the cash with a commercial bank, which is why the pool is read as a gauge of how much of the world's official dollar reserves are sitting idle rather than being deployed. Cash in the pool is sterilized out of the private banking system exactly as ON RRP balances are, so a rising pool drains reserves even though nothing on the Fed's asset side changed. Read it alongside FIMA repo: the pool is where the official sector leaves dollars, FIMA repo is where it comes to get them. Weekly Wednesday snapshot. Display-only context, NOT in the DLI score.