What transaction segments does the BGCR cover?

The index encompasses all Treasury tri-party repo transactions and centrally cleared general collateral finance transactions.

How does this trading volume change during liquidity stress periods?

Turnover volume typically surges as institutions ramp up demand for secure cash borrowing by pledging high-quality assets.

Why is it advisable to monitor turnover volume rather than just interest rate levels?

Trading volume reflects market depth and cash absorption capacity, dimensions that interest rate figures alone fail to fully capture.

US BGCR Broad General Collateral Rate Trading Volume

Name: US BGCR Broad General Collateral Rate Trading Volume
Creator: New York FED (Markets Data API)
License: https://creativecommons.org/licenses/by/4.0/

US BGCR Broad General Collateral Rate Trading Volume stood at 1,223 USD billion on Oct 15, 2026, according to New York FED (Markets Data API). It is one of the indicators in the Money market turnover table (Value · Daily), with a complete series running from Apr 2, 2018 to Oct 15, 2026. The complete series with an interactive chart, free to download.

Source: New York FED (Markets Data API)Last updated: Oct 16, 2026, 22:34 UTCCurated by Bui Thanh Phuc

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This indicator in the Money market turnover table

Indicator	15-10-2026	14-10-2026	13-10-2026	09-10-2026	08-10-2026	07-10-2026	06-10-2026	05-10-2026	02-10-2026	01-10-2026
BGCR - Broad General Collateral Rate	1,223	1,228	1,226	1,243	1,228	1,229	1,219	1,209	1,211	1,221
OBFR - Overnight Bank Funding Rate	232	229	209	229	241	220	225	243	243	256
EFFR - Effective Federal Funds Rate	118	111	106	110	117	108	120	121	118	120

Understanding US BGCR Broad General Collateral Rate Trading Volume

This data measures the total value of general collateral repo contracts backed by government debt executed on an overnight basis. The calculation scope expands beyond the pure tri-party segment by integrating all centrally cleared general collateral transactions. Compared to the broadest metric in the repo market, this indicator excludes bespoke bilateral agreements between counterparties to focus on highly standardized payment channels.

Figures are updated daily for the preceding trading session and are subject to minor revisions when data review batches occur. When analyzing, viewers should avoid the trap of comparing absolute data between holiday periods and normal working days due to massive fluctuations in cash trading volumes. Additionally, tracking the scale divergence between this metric and the narrower tri-party metric helps identify capital flow shifts between clearing and settlement infrastructures.

Frequently asked questions

What transaction segments does the BGCR cover?: The index encompasses all Treasury tri-party repo transactions and centrally cleared general collateral finance transactions.
How does this trading volume change during liquidity stress periods?: Turnover volume typically surges as institutions ramp up demand for secure cash borrowing by pledging high-quality assets.
Why is it advisable to monitor turnover volume rather than just interest rate levels?: Trading volume reflects market depth and cash absorption capacity, dimensions that interest rate figures alone fail to fully capture.