美联储下周提前结束量化紧缩？美银行体系准备金降至2.93万亿美元

Core Viewpoint - The continuous decline in the U.S. banking system's reserves raises concerns about the Federal Reserve potentially ending its quantitative tightening (QT) measures soon [1] Group 1: Banking System Reserves - As of October 22, the banking system's reserves decreased by approximately $59 billion, reaching $2.93 trillion, the lowest level since January of this year [1] - This marks the eighth consecutive week of decline in bank reserves [1] Group 2: Impact on Federal Reserve Policies - Analysts indicate that the ongoing decrease in reserves is becoming a significant constraint on the Federal Reserve's balance sheet reduction process [1] - Since the lifting of the U.S. debt ceiling in July, the Treasury has increased the issuance of government bonds to rebuild cash reserves, further tightening liquidity [1] Group 3: Liquidity Conditions - The balance of the overnight reverse repurchase agreement (ON-RRP) tool is nearing zero, which is putting additional pressure on bank reserves and significantly tightening liquidity [1]