NEW YORK, July 29 (Reuters) - The Federal Reserve on Friday awarded $110.52 billion of three-day, fixed-rate reverse repurchase agreements to 60 bidders at an interest rate of 0.25 percent, the New York Fed said on its website.
The day’s amount was the highest since July 5 when the Fed awarded $111.24 billion in reverse repos to 47 bidders.
Money market funds and other investors tend to put more cash into near risk-free instruments at the end of the month for protection against possible market volatility.
On Thursday, the U.S. central bank allotted $45.19 billion in one-day reverse repos to 27 bidders, including Wall Street dealers, money market mutual funds and mortgage finance agencies, also at an interest rate of 0.25 percent. (Reporting by Richard Leong, editing by G Crosse)