June 30, 2017 / 5:53 PM / 23 days ago

Fed awards most reverse repos in six months

1 Min Read

The Federal Reserve Building stands in Washington April 3, 2012.Joshua Roberts/File Photo

NEW YORK (Reuters) - The Federal Reserve on Friday awarded $398.88 billion in repurchase agreements at an interest rate of 1.00 percent to 79 bidders, which was the highest amount since $468.36 billion on Dec. 30, the New York Federal Reserve said.

On Thursday, the U.S. central bank had allotted $269.57 billion in reverse repos to 59 money market funds, mortgage finance agencies and other qualified participants at an interest rate of 1.00 percent.

Reporting by Richard Leong; Editing by Tom Brown

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