Hi, I'm not 100% familiar with this https://fred.stlouisfed.org/series/RRPONTSYD, is it like a holding/checking account for banks to keep unused money (for loans, mortages, investments etc)? I read somewhere that the interest rate there is very very low, so there's little incentives to keep money there unless there's really no better use of it?
Yesterday was the first time it is over 2T and it has been on an uptrend YTD.
What's the implication and indication of this 2T if any? Thanks!
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