NEW YORK (Reuters) - The Federal Reserve on Tuesday awarded $82.27 billion of one-day, fixed-rate reverse repurchase agreements to 34 bidders at an interest rate of 0.25 percent, the New York Fed said on its website.
The amount was the highest since July 6 when the Fed awarded $83.40 billion to 39 bidders.
On Monday, the Fed allotted $80.81 billion in one-day reverse repos to 32 bidders, including Wall Street dealers, money market mutual funds and mortgage finance agencies, also at an interest rate of 0.25 percent.
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The reverse repurchase agreement program is seen as a critical policy tool for the U.S. central bank to drain money from the financial system in an effort to achieve its interest rate objectives.
(Reporting by Richard Leong; Editing by Richard Chang)