Fed net liquidity: balance sheet, TGA, reverse repo and bank reserves

Two levels of liquidity: Fed net liquidity — the Fed balance sheet minus the Treasury account and reverse repo, roughly bank reserves plus currency — and money in the economy, created by bank lending and government spending. Weekly flows, the Fed's bills/notes/MBS mix and Daily Treasury Statement cash flows.

Current readings · Oct 15, 2026

• Fed balance sheet: $6.75tn
• TGA: $920bn
• Fed net liquidity: $5,812bn
• Broad dollar index: 121.6
• Bank reserves at the Fed: $3.03tn
• M2, y/y: 5.7%
• Bank credit, y/y: 5.9%
• Global liquidity: $24.7tn

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