Short-term funding
US short-term funding volumes
The volume side of US financial plumbing: how many dollars actually move through the repo market each day, against what collateral, and where the $8.4 trillion money-market-fund complex places its cash. Daily repo series by market segment (tri-party, FICC DVP, FICC GCF) and monthly MMF aggregates, republished from the OFR Short-Term Funding Monitor's public API. The September 2019 repo spike, the March 2020 dash for cash, and the rise and fall of the ON RRP era are all visible in the published series.
Data as of Jul 15, 2026 daily repo, Jun 30, 2026 MMF (OFR STFM)
Repo transaction volume by market segment
Daily transaction volume of repurchase agreements settling in the tri-party service (from Aug 22, 2014) and clearing in FICC's DVP and GCF services (both published from May 2018), in USD trillions. Tri-party settled $0.78T on its first published day and $2.41T on Jul 15, 2026, 207% higher. On September 17, 2019, the repo-spike day when SOFR printed 5.25%, tri-party volume was $1.44T; in the March 2020 dash for cash it peaked at $1.58T (Mar 17, 2020). The 2019 stress was a price event more than a quantity event: the spike is visible on the rates chart on /conditions, while volumes here stayed near trend.
Source: OFR U.S. Repo Markets Data Release Preliminary vintage (-P), the one the OFR monitor itself charts; the Final vintage lags by about a quarter. Y axis in USD trillions. Chart keeps each window's extreme daily prints: every point is a real observation. Methodology
Tri-party volume by collateral class
The same tri-party market split by what secures the borrowing. On Jul 15, 2026, US Treasury collateral carried $1.09T and agency/GSE collateral $0.71T, together 75% of the day's tri-party volume, against $0.43T of other collateral and $0.17T of corporate debt: tri-party repo is predominantly a government-collateral market. The four classes sum to the tri-party total (asserted at build against the OFR's own series).
Source: OFR U.S. Repo Markets Data Release Collateral classes as published by the OFR. Y axis in USD trillions. Methodology
Money-market-fund investments
Month-end money-market-fund investments, total and by the OFR's five asset classes. Total MMF assets were $3.08T on Nov 30, 2010, the first month of the collection, and $8.40T on Jun 30, 2026. The five classes sum to the total (asserted at build). The composition shifted hard in 2016, the year the SEC's money-fund reform took effect: bank-related assets fell 59%, from $0.66T at end-2015 to $0.27T at end-2016, and Treasuries and repo have been the two largest holdings in the latest data.
Source: OFR U.S. Money Market Fund Data Release Month-end aggregates across all reporting US money market funds. Y axis in USD trillions. Methodology
MMF repo lending by counterparty: the ON RRP era
Where money funds place their repo. The blue line is repo with the Federal Reserve: it peaked at $2.34T in the month ending Dec 31, 2022, the ON RRP era's high-water mark in this collection, then drained almost entirely, to $6.8 billion by Jun 30, 2026. Gaps in a line are published gaps in the OFR series, not interpolated away.
Source: OFR U.S. Money Market Fund Data Release Counterparty classes as published by the OFR; the five sum to total MMF repo (asserted at build). Methodology
The series behind this page
All 20 OFR series carried here, with the exact mnemonic, the OFR's own series name, and the coverage actually served by the API at the last refresh. Values are USD; repo series are the Preliminary (-P) vintage.
| Mnemonic | OFR series name | Group | Freq | First obs | Latest obs |
|---|---|---|---|---|---|
| MMF-MMF_AG_TOT-M | Money Market Mutual Fund Investments in Federal Agency and GSE Securities | MMF portfolio | Monthly | 2010-11-30 | 2026-06-30 |
| MMF-MMF_BRA_TOT-M | Money Market Mutual Fund Investments in Bank-Related Assets | MMF portfolio | Monthly | 2010-11-30 | 2026-06-30 |
| MMF-MMF_OA_TOT-M | Money Market Mutual Fund Investments in Other Assets | MMF portfolio | Monthly | 2010-11-30 | 2026-06-30 |
| MMF-MMF_RP_TOT-M | Money Market Mutual Fund Investments in Repurchase Agreements | MMF portfolio | Monthly | 2010-11-30 | 2026-06-30 |
| MMF-MMF_RP_wDFI-M | Money Market Mutual Fund Investments in Repurchase Agreements with U.S. Financial Institutions | MMF repo by counterparty | Monthly | 2010-11-30 | 2026-06-30 |
| MMF-MMF_RP_wFFI-M | Money Market Mutual Fund Investments in Repurchase Agreements with Foreign Financial Institutions | MMF repo by counterparty | Monthly | 2010-11-30 | 2026-06-30 |
| MMF-MMF_RP_wFICC-M | Money Market Mutual Fund Investments in Repurchase Agreements Cleared by FICC | MMF repo by counterparty | Monthly | 2014-03-31 | 2026-06-30 |
| MMF-MMF_RP_wFR-M | Money Market Mutual Fund Investments in Repurchase Agreements with the Federal Reserve | MMF repo by counterparty | Monthly | 2011-03-31 | 2026-06-30 |
| MMF-MMF_RP_wOCP-M | Money Market Mutual Fund Investments in Repurchase Agreements with Other Counterparties | MMF repo by counterparty | Monthly | 2010-12-31 | 2026-06-30 |
| MMF-MMF_TOT-M | Money Market Mutual Fund Investments: Total | MMF portfolio | Monthly | 2010-11-30 | 2026-06-30 |
| MMF-MMF_T_TOT-M | Money Market Mutual Fund Investments in U.S. Treasury Securities | MMF portfolio | Monthly | 2010-11-30 | 2026-06-30 |
| REPO-DVP_OV_TOT-P | DVP Service Outstanding Volume: Total (Preliminary) | Repo outstanding volume | Daily | 2018-05-07 | 2026-07-16 |
| REPO-DVP_TV_TOT-P | DVP Service Transaction Volume: Total (Preliminary) | Repo transaction volume | Daily | 2018-05-07 | 2026-07-16 |
| REPO-GCF_OV_TOT-P | GCF Repo Service Outstanding Volume: Total (Preliminary) | Repo outstanding volume | Daily | 2018-05-07 | 2026-07-16 |
| REPO-GCF_TV_TOT-P | GCF Repo Service Transaction Volume: Total (Preliminary) | Repo transaction volume | Daily | 2018-05-07 | 2026-07-16 |
| REPO-TRI_TV_AG-P | Tri-Party Transaction Volume: Federal Agency and GSE Securities (Preliminary) | Tri-party by collateral | Daily | 2014-08-22 | 2026-07-15 |
| REPO-TRI_TV_CORD-P | Tri-Party Transaction Volume: Corporate Debt (Preliminary) | Tri-party by collateral | Daily | 2014-08-22 | 2026-07-15 |
| REPO-TRI_TV_O-P | Tri-Party Transaction Volume: Other Collateral (Preliminary) | Tri-party by collateral | Daily | 2014-08-22 | 2026-07-15 |
| REPO-TRI_TV_T-P | Tri-Party Transaction Volume: U.S. Treasury Securities (Preliminary) | Tri-party by collateral | Daily | 2014-08-22 | 2026-07-15 |
| REPO-TRI_TV_TOT-P | Tri-Party Transaction Volume: Total (Preliminary) | Repo transaction volume | Daily | 2014-08-22 | 2026-07-15 |
Source: OFR, Short-Term Funding Monitor Fetched from data.financialresearch.gov/v1 (free, no authentication). US federal government work; credit rendered per financialresearch.gov's legal notice. Methodology
Related: the rates these volumes trade at, on financial conditions; the Fed's lender-of-last-resort window, also on /conditions. See the full methodology for endpoints, mnemonics, vintages, and the license note.