Fed net liquidity
Observation date 2026-10-21 (Wednesday) · retrieved 2026-10-23
$5,808.2bn−61.4bn vs 2026-10-14
Fed assets − TGA − ON RRP · Methodology
| Component | FRED | 2026-10-21 | Weekly change |
|---|---|---|---|
| + Fed total assets | WALCL | $6,753.6bn | −2.0bn |
| − Treasury General Account (Wednesday level) | WDTGAL | $945.2bn | +59.3bn |
| − Overnight reverse repo | RRPONTSYD | $0.2bn | 0.0bn |
| = Net liquidity | $5,808.2bn | −61.4bn |
USD billions · Wednesday levels · snapshot of 2026-10-21
Contribution to change
| Component | Last week | Selected range |
|---|---|---|
| Fed assets | −2.0bn | −1,202.2bn |
| TGA (subtracted) | −59.3bn | −266.2bn |
| ON RRP (subtracted) | 0.0bn | +1,341.8bn |
| Net liquidity | −61.4bn | −126.6bn |
Last week: 2026-10-14 → 2026-10-21. Range: 2023-10-04 → 2026-10-21.
Scenario from 2026-10-21
Net liquidity $5,808.2bn → $5,808.2bn (0.0bn)
Holding other inputs constant. This is arithmetic on the proxy, not an asset-price forecast.
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Separate measure: bank reserve balances (WRESBAL) were $2,962.6bn on 2026-10-21. Reserves are not part of this formula.
Completed research
Sources
- WALCL: Fed total assets, Wednesday level, USD millions (H.4.1).
- WDTGAL: Treasury General Account, Wednesday level, USD millions. The weekly-average series is not used.
- RRPONTSYD: overnight reverse repo, daily, USD billions; the Wednesday value is used.
Last 26 weekly readings (table)
| Wednesday | Fed assets | TGA | ON RRP | Net liquidity |
|---|---|---|---|---|
| 2026-10-21 | 6,753.6 | 945.2 | 0.2 | 5,808.2 |
| 2026-10-14 | 6,755.6 | 885.8 | 0.2 | 5,869.6 |
| 2026-10-07 | 6,747.6 | 885.8 | 2.3 | 5,859.4 |
| 2026-09-30 | 6,743.0 | 984.0 | 11.5 | 5,747.4 |
| 2026-09-23 | 6,747.7 | 947.3 | 0.5 | 5,799.9 |
| 2026-09-16 | 6,746.5 | 991.7 | 5.4 | 5,749.5 |
| 2026-09-09 | 6,740.6 | 843.7 | 0.4 | 5,896.5 |
| 2026-09-02 | 6,737.2 | 944.4 | 0.5 | 5,792.3 |
| 2026-08-26 | 6,730.9 | 959.4 | 0.7 | 5,770.8 |
| 2026-08-19 | 6,745.7 | 936.4 | 0.3 | 5,809.0 |
| 2026-08-12 | 6,760.0 | 959.4 | 0.7 | 5,799.8 |
| 2026-08-05 | 6,748.6 | 929.3 | 1.7 | 5,817.6 |
| 2026-07-29 | 6,738.2 | 970.4 | 2.6 | 5,765.2 |
| 2026-07-22 | 6,747.4 | 835.4 | 0.4 | 5,911.6 |
| 2026-07-15 | 6,743.0 | 796.0 | 0.2 | 5,946.9 |
| 2026-07-08 | 6,735.6 | 749.2 | 3.3 | 5,983.0 |
| 2026-07-01 | 6,724.6 | 807.4 | 1.0 | 5,916.2 |
| 2026-06-24 | 6,735.6 | 901.8 | 4.5 | 5,829.3 |
| 2026-06-17 | 6,736.4 | 956.5 | 6.8 | 5,773.1 |
| 2026-06-10 | 6,725.4 | 801.1 | 0.4 | 5,923.9 |
| 2026-06-03 | 6,711.5 | 845.7 | 2.1 | 5,863.7 |
| 2026-05-27 | 6,704.4 | 842.7 | 1.9 | 5,859.9 |
| 2026-05-20 | 6,713.6 | 782.0 | 24.9 | 5,906.8 |
| 2026-05-13 | 6,728.5 | 807.4 | 3.7 | 5,917.4 |
| 2026-05-06 | 6,709.5 | 862.8 | 1.6 | 5,845.1 |
| 2026-04-29 | 6,700.0 | 988.1 | 0.7 | 5,711.1 |
USD billions.