September 20, 2019 / 11:35 AM / a month ago

U.S. repo rate rises ahead of Fed repo operation

NEW YORK, Sept 20 (Reuters) - The interest rate on U.S. overnight repurchase agreements climbed early Friday in advance of an operation conducted by the New York Federal Reserve which may add up to $75 billion in temporary cash in the U.S. banking system.

The overnight repurchase agreement (repo) rate was last quoted at 1.90%-2.00%, compared with 1.75% late on Thursday, according to Refinitiv data. (Reporting by Richard Leong; Editing by Hugh Lawson)

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