The usage scale of the Federal Reserve's overnight reverse repurchase agreement has dropped to its lowest level since April 2021
The usage of the Federal Reserve's overnight reverse repurchase agreement (RRP) further declined on Friday, falling to its lowest level in nearly four years. On Friday, about 22 counterparties deposited $58.8 billion through RRP, the lowest since April 2021, compared to $67.8 billion on the previous trading day. The number of counterparties also hit a low not seen since May 2020.
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