Indicator · updated with every release
Fed Standing Repo Facility usage today
Overnight loans from the Fed to banks and dealers against Treasury and agency collateral. It’s a backstop: heavy use is a sign that money markets are short of cash.
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What it is
The Fed set up the Standing Repo Facility in July 2021, after the September 2019 repo spike, so that firms could always borrow cash overnight at a set rate. Daily usage is published as FRED series RPONTSYD. Usage is usually near zero and tends to rise around month- and quarter-ends.
Why it matters for liquidity
If banks and dealers turn to the Fed for overnight cash, private funding has become expensive or scarce. Rising use alongside falling bank reserves and a higher SOFR is an early warning of tighter liquidity.
Questions
How much is the Standing Repo Facility being used now?
On 2 November 2026, US$2 million.
What does heavy use mean?
That firms couldn’t find cheaper overnight funding in the market, which usually means reserves or cash in money markets are scarce.
Related
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Start free trialGeneral information only, not financial advice. Data can be delayed, revised or wrong. Sources and credits.