Now that the debt ceiling has been lifted temporarily, the drawdown of the Fed’s RRP slush fund begins, with the selling of the first new bills. The Treasury so far has announced $65 billion in net new paper that will begin to hoover up all that cash sitting in the RRPSF.
Here’s the Treasury announcement:
CUSIP: 912796H77
Term and Type: 39-Day Bill
CMB: Yes
Offering Amount: 60 Billion
Announcement Date: 10/13/2021
Auction Date: 10/14/2021
Issue Date: 10/18/2021
Maturity Date: 11/26/2021
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