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MONEY MARKETS-U.S. repo rate rises as money funds refrain to lend
October 5, 2016 / 12:42 PM / a year ago

MONEY MARKETS-U.S. repo rate rises as money funds refrain to lend

NEW YORK, Oct 5 (Reuters) - The cost of a key short-term funding source for Wall Street rose on Wednesday on signs that money market funds have remained reluctant to lend to financial institutions ahead of new industry regulations that will go into effect next week.

The interest rate on repurchase agreements, in which banks and bond dealers use U.S. Treasuries and other securities as collateral to raise cash from investors, was last quoted at 0.66-0.70 percent, compared with 0.60 percent late on Tuesday, according to ICAP data. (Reporting by Richard Leong)

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