FED Net Liquidity (WALCL - TGA - RRP)

a measure of FED net liquidity with color codes. What is FED Net Liquidity?

FED Net Liquidity is a proxy for how much usable US-dollar liquidity is actually available to financial markets.

It combines three balance-sheet items from the Federal Reserve and the US Treasury into one number:

FED Net Liquidity =
FED Balance Sheet (WALCL) − Treasury General Account (TGA) − Reverse Repo (RRP)

The goal is simple:
to estimate how much money is “in play” for risk assets, rather than parked or withdrawn.