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Fed's Repo Facility Hits $50 Billion Amid Rate Surge

11/1/2025

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Summary

Story summary

On Oct. 31, 2025, the Federal Reserve's Standing Repo Facility (SRF) usage reached $50 billion, the highest since 2021.
The rise reflects banks' response to repo rates exceeding the Fed's interest on reserve balances (IORB).
Lorie Logan, president of the Federal Reserve Bank of Dallas, urged using the SRF to stabilize repo rates.
The Fed will halt Treasury holdings reductions on December 1, 2025, as global money markets tighten.

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Story summary

On Oct. 31, 2025, the Federal Reserve's Standing Repo Facility (SRF) usage reached $50 billion, the highest since 2021.
The rise reflects banks' response to repo rates exceeding the Fed's interest on reserve balances (IORB).
Lorie Logan, president of the Federal Reserve Bank of Dallas, urged using the SRF to stabilize repo rates.
The Fed will halt Treasury holdings reductions on December 1, 2025, as global money markets tighten.