U.S. repo rate spikes at quarter-end

NEW YORK (Reuters) – The curiosity rate on U.S. in a single day repurchase agreements jumped on Monday as banks and Wall Street are scrambling to fund their loans and trades at the tip of the third quarter and earlier than the Federal Reserve’s operation to supply money into banking system.

In early U.S. buying and selling, in a single day repo charges had been quoted at 2.50%-2.80%, in contrast with 1.90% late on Friday, based on ICAP.