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RRP Uptake Only Inches Higher Despite Seasonal Counterparty Increase

FED
  • RRP uptake increased for the third day running today to $779bn, although only by $9bn after a combined $90bn Mon-Tue.
  • It lifts usage further off Friday’s $683bn marked fresh lows since Jun 2021, but the latest increase is small considering the increase in counterparties from 87 to 95 on seasonal flows.
  • As such, the $ take per counterparty of $8.2bn is a fresh low since May 2021.

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