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US TSYS/OVERNIGHT REPO: Partial Bounceback In ON RRP Takeup

US TSYS/OVERNIGHT REPO

Takeup of the Fed's overnight reverse repo facility partially rebounded Friday from Thursday's drop, rising $15.7B to $204.3B after a prior $29.2B fall.

  •  The latter was likely induced by flows out of ON RRP into bills Thursday amid unusually large bill settlements.
  • ON RRP takeup is expected to remain relatively steady until picking up at end-month.

 

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Takeup of the Fed's overnight reverse repo facility partially rebounded Friday from Thursday's drop, rising $15.7B to $204.3B after a prior $29.2B fall.

  •  The latter was likely induced by flows out of ON RRP into bills Thursday amid unusually large bill settlements.
  • ON RRP takeup is expected to remain relatively steady until picking up at end-month.