How the Fed’s Overnight Reverse Repo Facility Works

Gara Afonso, Lorie Logan, Antoine Martin, Will Riordan and Patricia Zobel
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Lorie Logan: https://www.dallasfed.org/fed/leadership/Logan.aspx

No 20220111, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: Daily take-up at the overnight reverse repo (ON RRP) facility increased from less than $1 billion in early March 2021 to just under $2 trillion on December 31, 2021. In the second post in this series, we take a closer look at this important tool in the Federal Reserve’s monetary policy implementation framework and discuss the factors behind the recent increase in volume.

Keywords: overnight reverse repo (ON RRP); monetary policy implementation (search for similar items in EconPapers)
JEL-codes: E52 E58 (search for similar items in EconPapers)
Date: 2022-01-11
New Economics Papers: this item is included in nep-cwa, nep-his, nep-mac and nep-mon
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