September 24, 2019 / 11:32 AM / a month ago

U.S. repo rate rises ahead of Fed operations

FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis/File Photo

NEW YORK (Reuters) - The interest rate on U.S. overnight repurchase agreements ticked higher early Tuesday in advance of two operations to be conducted by the New York Federal Reserve which may add up to $105 billion in temporary cash in the U.S. banking system.

The overnight repurchase agreement (repo) rate was last USONRP= quoted at 2.00%-2.08%, compared with 1.95% late on Monday, according to Refinitiv data.

Reporting by Richard Leong; Editing by Raissa Kasolowsky

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