MMF repo volumes fell 8% in September

In September, a dash for cash by financial institutions saw the rate for cleared repo shoot to its highest on record. Data from the US Treasury’s Office of Financial Research shows there was huge demand for cash from money market funds (MMFs) by certain firms, too, though total borrowings were down on the previous month.

Total US Treasury repos between financial firms and MMFs hit $772.9 billion at end-September, down more than 8% from $842.2 billion at end-August. 

The largest single

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