Reuters logo
MONEY MARKETS-U.S. repo rate falls as new quarter starts
October 3, 2016 / 11:57 AM / in a year

MONEY MARKETS-U.S. repo rate falls as new quarter starts

NEW YORK, Oct 3 (Reuters) - The cost for a key short-term funding source for Wall Street tumbled on Monday from its highest level since the global credit crisis almost eight years ago on signs of increased lending with the start of the fourth quarter.

The interest rate on repurchase agreements, in which commercial and investment banks use securities as collateral to raise cash from investors, was last quoted at 0.30-0.40 percent after it rose as high as 1.75 percent on Friday, according to ICAP data. (Reporting by Richard Leong; Editing by Lisa Von Ahn)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below