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Surprisingly Limited Increase In O/N RRP Uptake

FED
  • Usage of the Fed’s O/N RRP increased $27bn to $441bn today from Friday’s new recent low of $414bn.
  • It’s a relatively small increase considering expected inflows from GSEs as is typical for this time of the month.
  • Wrightson ICAP had estimated an increase of circa $60bn.
  • The number of counterparties increased by 2 to 70, still one of the lowest recently.

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