NY Fed RRP op demand at 0.16bln (prev. 0.22bln) across 5 counterparties (prev. 6) on April 16th

The decline in demand for the NY Fed's RRP operation, from $0.22 billion to $0.16 billion, suggests a tightening in liquidity preferences among counterparties, now reduced to five from six. This change may indicate a cautious stance toward cash management, potentially impacting short-term rates and market expectations regarding the Fed's monetary policy.