1. Link to the 13 trillion is in the post, here it is again. I was not talking about T-bills specifically.
2. That's exactly my point, there is a lack of collateral

There's a lack of good collateral (like T-bills) for MMs to use in the tri-party repo market, and a lack of collateral to secure loans from MMs. So, the MMs are cash heavy and still need to make that interest. If the banks are cash heavy, and the Federal reserve wants to tighten, it makes complete sense for the award rate to be higher than the FFR. That encourages banks to take RRPs instead of risky loans due to a lack of good collateral.

What am I missing?