The usage of overnight reverse repurchase agreements by the Federal Reserve has dropped to the lowest level since April 2021.

The overnight reverse repurchase agreement conducted by the Federal Reserve used balances dropped to the lowest level since April 2021 on Thursday. Approximately 13 counterparties placed $13.7 billion through RRP, lower than the approximately $14 billion from the previous trading day. The number of participants is also the lowest since April 2021.