NEW YORK: The Federal Reserve on Monday awarded $152.31 billion of overnight fixed-rate reverse repurchase agreements to 53 bidders at an interest rate of 0.05 percent, the New York Federal Reserve said on its website.
On Friday, the U.S. central bank allotted $157.52 billion in three-day reverse repos to 46 bidders including Wall Street dealers, money market mutual funds and mortgage finance agencies, also at an interest rate of 0.05 percent.
Demand for Fed's RRPs tends to rise when the interest rate on repurchase agreements falls. The repo rate was last quoted at zero to 0.03 percent on Monday, compared with 0.02-0.05 percent on Friday, according to ICAP.
Comments
Comments are closed.