U.S. Fed awards $30 billion seven-day reverse repos

(Reuters) – The Federal Reserve on Thursday awarded $30.0 billion of seven-day term fixed-rate reverse repurchase agreements to 34 bidders at an interest rate of 0.06 percent, the New York Federal Reserve said on its website.

Fifty-three bidders including Wall Street dealers, money market mutual funds and mortgage finance agencies submitted $73.585 billion in bids with interest rates ranging from 0.05 percent to 0.10 percent.

At the term reverse repo operation a week ago, the U.S. central bank allotted $10 billion in 7-day RRPs to 17 bidders also at an interest rate of 0.06 percent.

Fifty-five bidders submitted $69.387 billion in bids with interest rates ranging from 0.06 percent to 0.10 percent.

[source : in.reuters.com]