May 15, 2008 / 8:31 PM / 11 years ago

Fed - One large 1-day net reserve-projection miss

NEW YORK, May 15 (Reuters) - The Federal Reserve said on Thursday it had one large one-day net miss in its reserve projections in the week ended May 14.

The miss occurred on Wednesday, May 14, when float was higher than expected and Treasury balances were lower than expected resulting in an increase in reserves.

Transportation float averaged about $5 million per day, with highest on Thursday, May 8 at about $40 million, due to transportation delays.

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