diff --git a/lib/carbon/cache.py b/lib/carbon/cache.py
index 72ccf6cf..0304143a 100644
--- a/lib/carbon/cache.py
+++ b/lib/carbon/cache.py
@@ -208,6 +208,13 @@ def watermarks(self):
 
   @property
   def is_full(self):
+    if settings.CACHE_SIZE_HARD_MAX == float('inf'):
+      return False
+    else:
+      return self.size >= settings.CACHE_SIZE_HARD_MAX
+
+  @property
+  def is_nearly_full(self):
     if settings.MAX_CACHE_SIZE == float('inf'):
       return False
     else:
@@ -252,8 +259,12 @@ def store(self, metric, datapoint):
         # Not a duplicate, hence process if cache is not full
         if self.is_full:
           log.msg("MetricCache is full: self.size=%d" % self.size)
-          events.cacheFull()
+          events.cacheOverflow()
         else:
+          if self.is_nearly_full:
+            # This will disable reading when flow control is enabled
+            log.msg("MetricCache is nearly full: self.size=%d" % self.size)
+            events.cacheFull()
           if not self[metric]:
             self.new_metrics.append(metric)
           self.size += 1
diff --git a/lib/carbon/conf.py b/lib/carbon/conf.py
index 8a99df06..43532255 100644
--- a/lib/carbon/conf.py
+++ b/lib/carbon/conf.py
@@ -297,6 +297,10 @@ def cleanpath(path):
         state.database = database_class(settings)
 
         settings.CACHE_SIZE_LOW_WATERMARK = settings.MAX_CACHE_SIZE * 0.95
+        if settings.USE_FLOW_CONTROL:
+            settings.CACHE_SIZE_HARD_MAX = settings.MAX_CACHE_SIZE * 1.05
+        else:
+            settings.CACHE_SIZE_HARD_MAX = settings.MAX_CACHE_SIZE
 
         if "action" not in self:
             self["action"] = "start"
diff --git a/lib/carbon/events.py b/lib/carbon/events.py
index a7057ae3..ae36f473 100644
--- a/lib/carbon/events.py
+++ b/lib/carbon/events.py
@@ -22,6 +22,7 @@ def __call__(self, *args, **kwargs):
 
 metricReceived = Event('metricReceived')
 metricGenerated = Event('metricGenerated')
+cacheOverflow = Event('cacheOverflow')
 cacheFull = Event('cacheFull')
 cacheSpaceAvailable = Event('cacheSpaceAvailable')
 pauseReceivingMetrics = Event('pauseReceivingMetrics')
@@ -32,7 +33,7 @@ def __call__(self, *args, **kwargs):
   lambda metric, datapoint: state.instrumentation.increment('metricsReceived'))
 
 
-cacheFull.addHandler(lambda: state.instrumentation.increment('cache.overflow'))
+cacheOverflow.addHandler(lambda: state.instrumentation.increment('cache.overflow'))
 cacheFull.addHandler(lambda: setattr(state, 'cacheTooFull', True))
 cacheSpaceAvailable.addHandler(lambda: setattr(state, 'cacheTooFull', False))
 
diff --git a/lib/carbon/tests/benchmark_cache.py b/lib/carbon/tests/benchmark_cache.py
index 1c2b1379..aa7948f5 100644
--- a/lib/carbon/tests/benchmark_cache.py
+++ b/lib/carbon/tests/benchmark_cache.py
@@ -4,6 +4,10 @@
     NaiveStrategy, MaxStrategy, RandomStrategy, SortedStrategy, \
     TimeSortedStrategy, BucketMaxStrategy
 
+from carbon.conf import settings
+
+settings.CACHE_SIZE_LOW_WATERMARK = settings.MAX_CACHE_SIZE * 0.95
+settings.CACHE_SIZE_HARD_MAX = settings.MAX_CACHE_SIZE * 1.05
 
 metric_cache = _MetricCache(DrainStrategy)
 count = 0
diff --git a/lib/carbon/tests/test_cache.py b/lib/carbon/tests/test_cache.py
index 4eb391da..8bd8bb9d 100644
--- a/lib/carbon/tests/test_cache.py
+++ b/lib/carbon/tests/test_cache.py
@@ -11,6 +11,7 @@ class MetricCacheTest(TestCase):
   def setUp(self):
     settings = {
       'MAX_CACHE_SIZE': float('inf'),
+      'CACHE_SIZE_HARD_MAX': float('inf'),
       'CACHE_SIZE_LOW_WATERMARK': float('inf')
     }
     self._settings_patch = patch.dict('carbon.conf.settings', settings)
@@ -67,6 +68,13 @@ def test_store_checks_fullness(self):
   def test_store_on_full_triggers_events(self):
     is_full_mock = PropertyMock(return_value=True)
     with patch.object(_MetricCache, 'is_full', is_full_mock):
+      with patch('carbon.cache.events') as events_mock:
+        self.metric_cache.store('foo', (123456, 1.0))
+        events_mock.cacheOverflow.assert_called_with()
+
+  def test_store_on_nearly_full_triggers_events(self):
+    is_nearly_full_mock = PropertyMock(return_value=True)
+    with patch.object(_MetricCache, 'is_nearly_full', is_nearly_full_mock):
       with patch('carbon.cache.events') as events_mock:
         self.metric_cache.store('foo', (123456, 1.0))
         events_mock.cacheFull.assert_called_with()
@@ -150,7 +158,7 @@ def test_is_full_short_circuits_on_inf(self):
       size_mock.assert_not_called()
 
   def test_is_full(self):
-    self._settings_patch.values['MAX_CACHE_SIZE'] = 2.0
+    self._settings_patch.values['CACHE_SIZE_HARD_MAX'] = 2.0
     self._settings_patch.start()
     with patch('carbon.cache.events'):
       self.assertFalse(self.metric_cache.is_full)
@@ -178,8 +186,18 @@ def test_counts_multiple_datapoints(self):
 
 class DrainStrategyTest(TestCase):
   def setUp(self):
+    settings = {
+      'MAX_CACHE_SIZE': float('inf'),
+      'CACHE_SIZE_HARD_MAX': float('inf'),
+      'CACHE_SIZE_LOW_WATERMARK': float('inf')
+    }
+    self._settings_patch = patch.dict('carbon.conf.settings', settings)
+    self._settings_patch.start()
     self.metric_cache = _MetricCache()
 
+  def tearDown(self):
+    self._settings_patch.stop()
+
   def test_bucketmax_strategy(self):
     bucketmax_strategy = BucketMaxStrategy(self.metric_cache)
     self.metric_cache.strategy = bucketmax_strategy
@@ -303,8 +321,18 @@ def test_time_sorted_strategy_min_lag(self):
 
 class RandomStrategyTest(TestCase):
   def setUp(self):
+    settings = {
+      'MAX_CACHE_SIZE': float('inf'),
+      'CACHE_SIZE_HARD_MAX': float('inf'),
+      'CACHE_SIZE_LOW_WATERMARK': float('inf')
+    }
+    self._settings_patch = patch.dict('carbon.conf.settings', settings)
+    self._settings_patch.start()
     self.metric_cache = _MetricCache()
 
+  def tearDown(self):
+    self._settings_patch.stop()
+
   def test_random_strategy(self):
     self.metric_cache.store('foo', (123456, 1.0))
     self.metric_cache.store('bar', (123457, 2.0))