The Federal Reserve's overnight reverse repo use has fallen to its lowest level since 2021

On October 23rd, demand for the Federal Reserve's overnight reverse repos fell to their lowest level in nearly three and a half years on Tuesday. About 60 participants deposited about $238 billion at the Fed through overnight reverse repos, the lowest level since May 2021, according to data from the New York Fed. The amount in the previous session was $261 billion.