The reserve mix shifted toward overnight reverse Treasury repurchase agreements in the week to Nov. 5, even as USD Coin (USDC) reserves declined by about $900 million.
Total reserves receded to about $70.5 billion by Nov. 5 from $71.4 billion on Oct. 29. Overnight reverse Treasury repurchase agreements made up $36.6 billion of the Nov. 5 figure, versus $32.9 billion on Oct. 29 in the earlier reserve snapshot.
Treasury securities maturing in less than three months accounted for $23.3 billion, compared with $27.5 billion. Deposits at systemically important institutions declined to $9.9 billion from $10.4 billion, while other bank deposits rose to $800 million from $600 million.
Across those categories, overnight reverse Treasury repurchase agreements and other bank deposits increased, while short-term Treasury securities and deposits at systemically important institutions declined.
A separate Oct. 29 reading put USDC circulation at $70 billion. Issuance totaled about $10.9 billion and redemptions $11.7 billion over the previous seven days, according to an earlier EconoTimes report. Circulation and reserves are separate measures.
