Liquidityweekly
Treasury General Account
Treasury's cash balance at the Fed, drawdowns inject liquidity into markets.
The Treasury General Account is currently $748B, last updated .
$748B
1W -11.72%1M -12.27%3M -17.65%
Updated 3m agoLiquidity is the oxygen of financial markets. When the Fed expands its balance sheet or the Treasury draws down the TGA, excess reserves flow into risk assets. The reverse repo facility acts as a barometer of surplus cash in the system. Tracking net liquidity, the Fed balance sheet minus TGA and reverse repo, has been one of the strongest macro signals of the post-2020 era.
Updated just now
Recent Data
| Date | Value | Change |
|---|---|---|
| Apr 8, 2026 | $748B | -11.72% |
| Apr 1, 2026 | $848B | -3.02% |
| Mar 25, 2026 | $874B | +2.46% |
| Mar 18, 2026 | $853B | +1.77% |
| Mar 11, 2026 | $838B | +0.74% |
| Mar 4, 2026 | $832B | -6.26% |
| Feb 25, 2026 | $888B | -2.75% |
| Feb 18, 2026 | $913B | -0.28% |
| Feb 11, 2026 | $915B | +0.72% |
| Feb 4, 2026 | $909B | — |
Related in Liquidity
Fed Balance Sheet
Total assets held by the Federal Reserve, the QE/QT gauge.
Overnight Reverse Repo
ON RRP facility balance, liquidity buffer absorbing QT before reserves drain.
M2 Money Supply
Broad money supply including cash, checking, savings, and money market funds.
Total Reserves
Total reserves of depository institutions at the Federal Reserve.
Explore Further
Forecast 2026
Treasury General Account Outlook
Scenario-weighted forecast using regime implied approach.
Comparison
Treasury General Account vs Reverse Repo
TGA and RRP are two Fed liabilities that compete for cash with bank reserves. When TGA rises (Treasury issues debt and h...
Comparison
Treasury General Account vs Fed Balance Sheet
TGA is a Fed liability that drains liquidity when it rises (Treasury holds cash that is not circulating). When WALCL sta...
Scenario
What Happens When the Treasury General Account Drains?
What happens when the Treasury General Account (TGA) drains? Liquidity injection effects, risk asset response, and debt ...
Indicator
Convex Net Liquidity Index (CNLI)
The Convex CNLI measures real market liquidity by subtracting two critical drains (Reverse Repo and Treasury General Acc...
Category
All Liquidity Data
Fed balance sheet, reverse repo, TGA, and net liquidity data. Understand the plumbing that fuels or drains risk assets....
Frequently Asked Questions
▶What is Treasury General Account?
Treasury's cash balance at the Fed, drawdowns inject liquidity into markets.
▶How does Treasury General Account relate to liquidity?
Treasury General Account is part of the Liquidity category. Liquidity is the oxygen of financial markets. When the Fed expands its balance sheet or the Treasury draws down the TGA, excess reserves flow into risk assets. The reverse repo facility acts as a barometer of surplus cash in the system. Tracking net liquidity, the Fed balance sheet minus TGA and reverse repo, has been one of the strongest macro signals of the post-2020 era.
▶How often is Treasury General Account updated?
Treasury General Account is updated weekly, typically on the same day each week. Each metric page on Convex shows the exact time of the last data update and provides historical data going back up to five years.
▶Where does Convex source Treasury General Account data?
Convex sources Treasury General Account data from the Federal Reserve Economic Data (FRED) API, maintained by the Federal Reserve Bank of St. Louis. Data is fetched automatically and displayed alongside interactive charts, AI analysis, and historical context.
▶What can I do on the Treasury General Account chart page?
The Treasury General Account page includes an interactive chart with selectable time ranges (1 month to 5 years), percentage changes over multiple timeframes, a table of recent readings, AI-generated analysis, and links to related metrics and comparisons.
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Data sourced from FRED, CoinGecko, CBOE, CFTC, and EIA. Updated weekly. This page is for informational purposes only and does not constitute financial advice.