FOMC doubles ceiling for reverse repo bids

Fed-repo

The Federal Open Market Committee (FOMC) announced on September 22 that it would double the limit on the overnight reverse repo (ON RRP) facility to $160 billion per transaction.

This marks the second time this year that the Federal Open Market Committee has raised the ON RRP cap. In March, the New York Fed announced the $80 billion limit, increasing it from $30 billion.

The New York Fed, which administers the ON RRP facility, said that the change “helps ensure that the ON RRP facility

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