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ON RRP / SRP

Fresh

Usage of Fed facilities like ON RRP and SRF — showing whether reserves are abundant or scarce

Module/Funding
ON RRP Latest Usage$1.0 billion
ON RRP Recent Change-$3.5 billion
ON RRP Cash Buffer LabelLow-Watch
Repo / SRP Latest Usage$0
Repo / SRP Active LabelInactive
What To Watch
  • Whether lower ON RRP aligns with higher SOFR-EFFR, SRF/repo usage, and reserve context.
  • Whether SRF/repo operations move from small tests to real usage and line up with repo-rate pressure.
What Can Mislead
  • Low ON RRP does not by itself mean scarcity; cross-check reserves, SOFR-EFFR, and SRF.
  • Facility data describes liquidity buffers and facility usage; it should not replace repo reference rates by itself.
Data Lineage

Sourced from NY Fed facility operations; a core signal for reserve abundance and facility usage.

Sources: New York Fed Open Market Operations / Federal Reserve Board H.4.1 context

Chart
$-2.2B$5.6B$13.4B$21.3B$29.1B2026/062026/062026/062026/07
ON RRPRepo / SRP

Sources·New York Fed Open Market Operations as of 2026-07-02·Federal Reserve Board H.4.1 context as of 2026-07-02

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