Reverse Repurchase Agreements: Treasury Securities Sold by the Federal Reserve in the Temporary Open Market Operations
RRPTSYD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
91.97
Year-over-Year Change
-56.96%
Date Range
10/7/2021 - 8/6/2025
Summary
Reverse Repurchase Agreements (RRPs) track the volume of Treasury securities temporarily sold by the Federal Reserve to financial institutions as a monetary policy tool. This metric helps economists understand short-term liquidity management and the Fed's efforts to control money supply and interest rates.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
RRPs represent a critical short-term funding mechanism where the Federal Reserve sells securities with an agreement to repurchase them later, effectively absorbing excess liquidity from the financial system. Economists closely monitor these transactions as they provide insights into market conditions, banking system cash management, and monetary policy implementation.
Methodology
Data is collected daily by the Federal Reserve through its open market operations, tracking the total dollar value of Treasury securities temporarily sold to financial counterparties.
Historical Context
This metric is used by policymakers to manage short-term interest rates, control money supply, and maintain financial system stability.
Key Facts
- RRPs help the Fed manage excess bank reserves
- Transactions are typically very short-term, often overnight
- Volume can indicate market liquidity and financial system health
FAQs
Q: What are Reverse Repurchase Agreements?
A: RRPs are short-term transactions where the Federal Reserve sells Treasury securities to financial institutions with an agreement to buy them back later, helping manage liquidity in the financial system.
Q: Why does the Federal Reserve use RRPs?
A: RRPs help the Fed control short-term interest rates and manage excess cash in the banking system by temporarily removing liquidity from the market.
Q: How often is RRPTSYD data updated?
A: The data is typically updated daily, reflecting the most recent reverse repurchase agreement transactions in the financial markets.
Q: What do high RRP volumes indicate?
A: High RRP volumes can suggest excess liquidity in the banking system and potential challenges in deploying capital effectively.
Q: Are RRPs a permanent monetary tool?
A: RRPs are a flexible, temporary monetary policy instrument that can be quickly adjusted based on current economic conditions and market needs.
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Citation
U.S. Federal Reserve, Reverse Repurchase Agreements: Treasury Securities Sold by the Federal Reserve in the Temporary Open Market Operations [RRPTSYD], retrieved from FRED.
Last Checked: 8/1/2025