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U.S. Fed reverse repo volume hits record $1 trillion

07/30/2021 | 01:17pm EDT

NEW YORK, July 30 (Reuters) - Volume at the U.S. Federal Reserve's reverse repurchase facility soared to a record $1.039 trillion on Friday as investors and financial institutions continued to pour cash into the overnight window.

The Fed said there were 86 bidders for the U.S. central bank facility.

Volume surged after the Fed last month raised the rate it pays on reverse repurchase agreements to 0.05% from 0% as part of technical adjustments to keep the effective federal funds rate from falling too low. (Reporting by Gertrude Chavez-Dreyfuss Editing by Chris Reese)


ę Reuters 2021
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