April 30, 2019 / 1:12 PM / 22 days ago

MONEY MARKETS-U.S. fed funds rate rises before Fed meeting

NEW YORK, April 30 (Reuters) - The average borrowing cost for U.S. banks to borrow excess reserves overnight rose to 2.45% on Monday in advance of a two-day Federal Reserve policy meeting that will begin later Tuesday, New York Federal Reserve data released on Tuesday showed.

The average or “effective” federal funds rate’s premium over the interest rate the U.S. central bank pays on the excess reserves that banks leave with it reached a record 5 basis points on Monday. (Reporting by Richard Leong)

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