FICC captures record share of US MMF repos

- By Lorenzo Migliorato
- 09 Sep 2024

US money market fund (MMF) repos funnelled through the Fixed Income Clearing Corporation (FICC) surged 17.8% to a record $634.9 billion at the end of July, as fund managers continued to shift cash away from the Federal Reserve’s reverse repo programme (RRP).

FICC-cleared balances accounted for 24.6% of MMFs’ total reverse repo investments – the highest proportion ever recorded – according to data

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