Fed's reverse repos fall below $2 trillion for first time since June 2022

NEW YORK: Demand for the Federal Reserve's reverse repurchase (RRP) facility slowed on Thursday, falling below $2 trillion for the first time since early June last year amid a flood of Treasury debt issuance after the US debt ceiling was extended a few weeks ago.
The Fed's reverse repo window attracted $1.992 trillion in overnight reverse repo bids with a rate of 5.05% to 103 bidders, according to data from the New York Fed.