Forty-three bidders including Wall Street dealers, money market mutual funds and mortgage finance agencies submitted $74.05 billion in bids with interest rates ranging from 0.05 percent to 0.08 percent.
This was the last of the four test term RRP operations announced by the Fed in late January. At the term reverse repo operation a week ago, the US central bank allotted $50.0 billion in 7-day RRPs to 49 bidders also at an interest rate of 0.06 percent.
At that operation, 53 bidders submitted $87.68 billion in bids with interest rates ranging from 0.05 percent to 0.10 percent.