Fed’s overnight reverse repo usage rises to $5.087B

The RRP's modest uptick is a liquidity-management detail, not a signal of broader market stress, and the small counterparty count suggests participation remains narrow. What matters is the direction of travel: whether this weekly drift higher reflects temporary cash-management choices or a more persistent shift in how money-market participants park short-term funds. With the facility's role as a rate floor in focus, the size and breadth of usage are worth watching as a read on short-term funding conditions.