Treasury General Account
US Treasury General Account balance at the Fed ($M, weekly)
| Property | Value |
|---|---|
| Category | macro |
| Unit | $M |
| Resolution | 1d |
| Assets | MACRO |
| Tier | Basic |
| API Endpoint | GET /v1/macro/monetary |
| Field | tga_balance |
Overview
US Treasury General Account balance at the Federal Reserve (FRED WTREGEN), in millions of dollars, weekly frequency. This is the operational checking account that the Treasury uses to make federal payments. The balance changes daily based on tax receipts, Treasury auctions, and federal outlays.
Interpretation
- Rising TGA: Treasury is accumulating cash (e.g., post-debt-ceiling refill) — drains liquidity from the banking system, historically headwind for BTC.
- Falling TGA: Treasury is spending cash, injecting liquidity into the banking system — historically tailwind for BTC.
- Major TGA events (debt-ceiling resolutions, tax-day spikes) often produce predictable liquidity moves.
Use Cases
- Use as a key input to
macro_net_liquidityfor BTC macro overlays. - Track around debt-ceiling negotiations for catalytic liquidity events that have historically moved BTC.
- Combine with
macro_reverse_repoto attribute composite liquidity moves.
API Usage
curl -H "Authorization: Bearer YOUR_API_KEY" \
"https://api.blocklens.co/v1/macro/monetary?start_date=2024-01-01&end_date=2024-12-31&limit=365"
Related Metrics
- Fed Balance Sheet — Federal Reserve total assets ($M, weekly)
- Reverse Repo (Overnight) — Overnight Reverse Repo facility usage ($B, daily)
- Net Liquidity — Fed Balance Sheet minus RRP minus TGA ($M, weekly)
- Fed Funds Target Rate — US federal funds upper-bound target rate (%, daily)