Cleared US repos hit record high as MMFs wean off Fed

Deflating tri-party volumes coincide with FICC DVP trades’ climb to $2tn

Cleared bilateral repos in the US hit a record high at the turn of the year, likely the result of the buy side pivoting away from the US Federal Reserve’s reverse repo programme (RRP) towards more remunerative trades, without sacrificing safety.

Data from the Office of Financial Research (OFR) shows volumes of repos opened daily on the Fixed Income Clearing Corporation’s delivery versus payment (FICC DVP) service grew at an accelerating pace in December 2023, eventually hitting the $2 trillion

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here