AI Data Insight
As of Q2 2026 (June 5), the US Federal Reserve's Overnight Reverse Repurchase Agreement (ON RRP) facility reached $325.788 billion, rebounding slightly from $300.879 billion in the previous week. Despite the slight short-term increase, the ON RRP balance has shrunk significantly as the Fed continues to push quantitative tightening (QT) and funds shift to other short-term assets. If this liquidity reservoir is completely exhausted in the future, it may trigger interest rate volatility in the short-term funding market and force the Fed to reassess the pace of its balance sheet reduction.