Fed Overnight Reverse Repo Usage Rises to $582M on Sept 21

At this scale the RRP is a rounding error against its pandemic-era peaks, so the headline number says little on its own; what stands out is that usage is drifting up rather than draining away, with counterparties still finding the facility worth tapping. The move is marginal enough that it reads as routine cash management rather than a signal about reserves or money-market stress. Whether this slow climb continues, or reverses as Treasury bill supply and quarter-end dynamics shift, is the open question worth tracking.