Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Fed Funds Open at 0.06%, Within Target Range, According to ICAP

Feb. 4 (Bloomberg) -- Fed funds, the U.S. overnight inter-bank lending rate, opened at 0.06 percent, within the Federal Reserve’s target of zero to 0.25 percent.

Fed funds closed at 0.07 percent yesterday after trading from 0.04 percent to 0.25 percent and averaging 0.05 percent, ICAP Plc, the world’s largest inter-dealer broker, said in an e-mailed statement.

The central bank will acquire Treasuries $2.25 billion to $2.75 billion of Treasuries maturing from February 2021 to November 2023. The purchases, which are permanent open market operations, are the part of the Fed’s quantitative easing program aimed at keeping long-term rates low.

The Fed may also conduct a test of an overnight fixed-rate reverse repo facility. The temporary open-market operations will use Treasuries as collateral.

To contact the reporter on this story: Liz Capo McCormick in New York at emccormick7@bloomberg.net

To contact the editor responsible for this story: Dave Liedtka at dliedtka@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.