AI Data Insight
In Q3 2026, for the week ending August 28, the volume of the US depository institutions' overnight reverse repurchase agreement (ON RRP) facility dropped to $356.158 billion, further shrinking from the previous value of $373.686 billion. Market funds are shifting toward higher-yielding short-term Treasury bills, indicating that excess market liquidity is continuously being absorbed during the Federal Reserve's quantitative tightening (QT) process.