Discussion Paper
Money Market Fund Repo and the ON RRP Facility
Abstract: Between January 2021 and June 2022, money market funds' (MMFs') investments in the Federal Reserve's Overnight Reverse Repurchase (ON RRP) facility rose by $2 trillion, while their private repo lending fell by almost $500 billion. These sizable shifts give us an opportunity to examine how monetary policy implementation and the ON RRP facility interact with the private repo market.
https://doi.org/10.17016/2380-7172.3412
Access Documents
File(s): File format is text/html https://www.federalreserve.gov/econres/notes/feds-notes/money-market-fund-repo-and-the-on-rrp-facility-20231215.html
Bibliographic Information
Provider: Board of Governors of the Federal Reserve System (U.S.)
Part of Series: FEDS Notes
Publication Date: 2023-12-15
Number: 2023-12-15-2