March 12, 2015 / 5:26 PM / 3 years ago

U.S. Fed awards $132.71 bln reverse repos Thursday

NEW YORK, March 12 (Reuters) - The Federal Reserve on Thursday awarded $132.71 billion of overnight fixed-rate reverse repurchase agreements to 54 bidders at an interest rate of 0.05 percent, the Federal Reserve Bank of New York said on its website.

Thursday’s amount was the most since Feb. 27 when the Fed awarded $155.00 billion.

On Wednesday, the U.S. central bank allotted $84.39 billion in overnight reverse repos to 53 bidders including Wall Street dealers, money market mutual funds and mortgage finance agencies, also at an interest rate of 0.05 percent.

Demand for the Fed’s RRPs tends to fall when the interest rate on repurchase agreements is rising. The repo rate was last quoted at 0.17 percent to 0.19 percent, compared with 0.15 percent late on Wednesday, according to ICAP. (Reporting by Richard Leong)

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