{"name":"US Liquidity, latest observations","description":"The newest observation of each series (TGA, overnight reverse repo, bank reserves, Fed total assets and net liquidity), each with its own date, plus TFTC's running net liquidity estimate. The full history is at https://www.tftc.io/us-liquidity/data.json.","url":"https://www.tftc.io/us-liquidity","license":"https://creativecommons.org/licenses/by/4.0/","attribution":"TFTC, tftc.io/us-liquidity","sources":"US Treasury Daily Treasury Statement via Fiscal Data (TGA, public domain); Federal Reserve Bank of New York repo operation results (overnight reverse repo); Federal Reserve H.4.1 release via FRED with Board Data Download Program fallback (reserve balances WRBWFRBL, week average WRESBAL and total assets WALCL, public domain). Net liquidity is TFTC's calculation.","upstreamTerms":[{"publisher":"Federal Reserve Bank of New York","url":"https://www.newyorkfed.org/privacy/termsofuse","note":"Use and sharing are subject to the New York Fed Terms of Use and any content-specific restrictions. No endorsement is implied."},{"publisher":"FRED, Federal Reserve Bank of St. Louis","url":"https://fred.stlouisfed.org/legal/","note":"Board direct-download policies: https://www.federalreserve.gov/disclaimer.htm. Credit the Board of Governors as original source and FRED, Federal Reserve Bank of St. Louis as retrieval service when used. Upstream terms remain applicable; TFTC's compilation license does not replace them."}],"iorb":{"ratePct":3.9,"effectiveDate":"2026-09-17","updatedDate":"2026-10-21","forDate":"2026-10-22"},"tgaDrivers":{"date":"2026-10-20","deposits":[{"category":"Public Debt Cash Issues (Table IIIB)","usd":312795000000},{"category":"Taxes - Withheld Individual/FICA","usd":3149000000},{"category":"DHS - Customs Duties, Taxes, and Fees","usd":1001000000}],"withdrawals":[{"category":"Public Debt Cash Redemp. (Table IIIB)","usd":282522000000},{"category":"HHS - Marketplace Payments","usd":14234000000},{"category":"Dept of Defense (DoD) - misc","usd":3026000000}]},"methodologyUrl":"https://www.tftc.io/us-liquidity/methodology","dataUrl":"https://www.tftc.io/us-liquidity/data.json","latestUrl":"https://www.tftc.io/us-liquidity/latest.json","units":"USD","updatedThrough":"2026-10-21","dateModified":"2026-10-21T19:00:00Z","methodology":{"netLiquidity":{"formula":"Fed total assets minus the Treasury General Account minus overnight reverse repo","rule":"Computed only for H.4.1 Wednesdays from 2013-09-25, where Fed assets, the TGA and the reverse repo are all observed. A Wednesday with no Treasury statement or no operation (a federal holiday) uses the last prior observation, at most 5 days back, and carries carried: true with the component dates.","estimate":"latest.json also carries a running estimate between Wednesdays: the newest TGA and reverse repo against Fed assets carried from the last Wednesday. It is labelled an estimate and replaced when the next H.4.1 posts."},"tga":"Closing balance of the Treasury General Account in the Daily Treasury Statement. Series names changed in October 2021 and April 2022; the three names are chained into one series. Deposits and withdrawals are the statement's daily totals, available from April 18, 2022.","rrp":"Total accepted at the New York Fed's regular overnight reverse repo operation (Treasury collateral, 1:15 pm Eastern close). Term reverse repos and small value exercises are excluded; where two overnight operations fall on one day the later close is the facility's operation.","reserves":"Reserve balances with Federal Reserve Banks, Wednesday level (FRED WRBWFRBL), with weekAverageUsd from WRESBAL and its separate weekAverageChangeUsd. The Wednesday level is used in comparisons; the average is a separate measure.","fedAssets":"Total assets less eliminations from consolidation, Wednesday level (FRED WALCL).","change":"changeUsd is the difference from the previous observation of the same series: the prior business day for daily series, the prior Wednesday for weekly ones."},"latest":{"tga":{"date":"2026-10-20","closingUsd":973653000000,"changeUsd":8608000000,"depositsUsd":321995000000,"withdrawalsUsd":313387000000,"url":"https://www.tftc.io/us-liquidity/treasury-general-account"},"rrp":{"date":"2026-10-21","acceptedUsd":237000000,"changeUsd":10000000,"submittedUsd":237000000,"counterparties":13,"awardRatePct":3.75,"operationId":"RP 102126 26","url":"https://www.tftc.io/us-liquidity/reverse-repo"},"reserves":{"date":"2026-10-14","levelUsd":3030854000000,"changeUsd":8788000000,"weekAverageUsd":3022140000000,"weekAverageChangeUsd":-7519000000,"url":"https://www.tftc.io/us-liquidity/bank-reserves"},"fedAssets":{"date":"2026-10-14","levelUsd":6755639000000,"changeUsd":8079000000},"netLiquidity":{"date":"2026-10-14","netUsd":5869615000000,"changeUsd":10176000000,"fedAssetsUsd":6755639000000,"tgaUsd":885823000000,"tgaDate":"2026-10-14","rrpUsd":201000000,"rrpDate":"2026-10-14","carried":false,"url":"https://www.tftc.io/us-liquidity/net-liquidity"}},"netLiquidityEstimate":{"date":"2026-10-21","netUsd":5781749000000,"changeSinceWednesdayUsd":-87866000000,"fedAssetsUsd":6755639000000,"fedAssetsDate":"2026-10-14","tgaUsd":973653000000,"tgaDate":"2026-10-20","rrpUsd":237000000,"rrpDate":"2026-10-21","note":"TFTC estimate: Fed assets carried forward from the last Wednesday. Replaced by the next Wednesday row when the H.4.1 posts."}}