Fed's Reverse Repo Operations Manage Short-Term Rates with $413.3B and $409.594B Transactions on July 15

The Federal Reserve's Reverse Repo Program (RRP) continues to play a crucial role in managing short-term interest rates. On July 15, the New York Fed accepted $413.3 billion submitted to the overnight reverse repo facility. This operation saw participation from 65 counterparties. The following day, another reverse repo operation involved 67 counterparties, taking a total of $409.594 billion. The Fed also introduced the Standing Repo Facility after the Sept 2019 Repo panic to put a ceiling on rates.