quote from link
...On Thursday, September 27th, the Federal Reserve entered into $6 billion in 14 day repos and $20 in 7 day repos. It also rolled over two small, shorter-term repos from earlier this week that will roll over again within 4 days. As of Thursday's actions, the total amount of Fed repurchases outstanding is $45 billion. This is about the total quantity of reserves in the U.S. banking system (which includes these repo proceeds). In short, these repos are not injections of new liquidity, but a continuous rollover that finances a stable level of reserves, at a level that is negligible in relation to $6.3 trillion in total bank loans....]
