March 2, 2020 / 4:32 PM / a month ago

Cost of overnight repo loans jumps as coronavirus spreads

March 2 (Reuters) - The cost to borrow funds overnight in the U.S. repurchase agreement market jumped on Monday, an indication that banks may be paring back on lending on concerns about the economic impact of the spread of the coronavirus.

The cost to borrow overnight in a repo backed by Treasuries jumped to 1.80% on Monday, from 1.65% on Friday.

Reporting By Karen Brettell

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