Total assets on the Fed’s balance sheet declined by $15 billion in September, to $6.59 trillion. Since the reduced pace of QT began in June 2025, the balance sheet has declined on average per month by $22 billion. Mortgage-Backed Securities (MBS): -$16.8 billion in September, -$654 billion (-24%) from the peak, to $2.08 trillion, where they’d first been in February 2021. But on September 15, just for this one day, $1.5 billion had been drawn on the SRF. The Fed’s balance sheet is weekly as of Wednesday and doesn’t capture the day-to-day moves in between.