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U.S. Fed accepts $755.8 bln in daily reverse repo operation -NY Fed

06/17/2021 | 01:33pm EDT

NEW YORK, June 17 (Reuters) - The Federal Reserve accepted $755.8 billion in its daily reverse repurchase operation on Thursday at a rate of 0.05%, the New York Fed said.

The U.S. central bank on Wednesday made a technical adjustment to interest rates it manages, at the end of its two-day policy meeting, aimed at keeping its key overnight benchmark interest rate from falling too low.

The Fed raised the interest rate it pays banks on reserves held at the U.S. central bank to 0.15% and also lifted the rate it pays on overnight reverse repurchase agreements to 0.05%, a tool used to set a floor on short-term interest rates.

(Reporting by Gertrude Chavez-Dreyfuss Editing by Chris Reese)


ę Reuters 2021
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