U.S. Treasury targets $1T TGA balance by end-July

BlockBeats reported on June 8 that the U.S. Treasury plans to rebuild its Treasury General Account (TGA), aiming for roughly $900 billion by the end of June and about $1 trillion by the end of July. Analysts said refilling the TGA typically drains liquidity from the financial system, a dynamic made more pronounced as usage of the Federal Reserve's reverse repo facility (RRP) has dropped from a peak above $2.5 trillion in 2022 to below $100 billion. Additional bond issuance could further draw down bank reserves, adding downside pressure to risk assets such as Bitcoin.