On Wednesday, the U.S. central bank allotted $149.75 billion in overnight reverse repos to 58 bidders including Wall Street dealers, money market mutual funds and mortgage finance agencies, also at an interest rate of 0.05 percent.
Demand for the Fed's RRPs tends to fall when the interest rate on repurchase agreements rises. The repo rate was last quoted at 0.15 percent to 0.18 percent, compared with 0.05 percent late on Wednesday, according to ICAP.