U.S. Fed awards $113.43
billion in reverse repos
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[July 02, 2016]
NEW YORK (Reuters) - The
Federal Reserve on Friday awarded $113.43 billion of
four-day, fixed-rate reverse repurchase agreements to 51
bidders at an interest rate of 0.25 percent, the New
York Fed said on its website.
A security guard walks in front of an image of the
Federal Reserve following the two-day Federal Open
Market Committee (FOMC) policy meeting in Washington,
DC, U.S. on March 16, 2016. REUTERS/Kevin Lamarque/File
Thursday, the Fed allotted $278.81 billion in one-day reverse
repos to 92 bidders, including Wall Street dealers, money market
mutual funds and mortgage finance agencies, also at an interest
rate of 0.25 percent.
The reverse repurchase agreement program is seen as a critical
policy tool for the U.S. central bank to drain money from the
financial system in an effort to achieve its interest rate
(Reporting by Richard Leong Editing by Diane Craft)
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