Fed Funds Spread No Longer a Spread

The general collateral market crashed and the GC/fed funds spread is no longer a spread. Great success for the TSLF [so far…read on].

Term collateral rates are adjusting higher to reflect a narrower GC/fed funds spread.
The market will remain awash in collateral until the “seasonal collateral shortage” hits the middle of the month. And then..between April 15th and April 24th, a net total of $158.6 billion U.S. Treasurys will mature and leave the market.

Note: this is twice the size of the successful TSLF auction last Friday. However, there can be more TSLF auctions in the future. The total size of the program is $200 billion.
So the Fed has another $125 bill Treasurys which can be added to the market. The Fed announced a $25 billion auction for Thursday for schedule 1 collateral.

But the question is: will there be upcoming TSLF auctions? If so, will they be large enough to offset the pending “collateral shortage?”