The Board of Governors of the Federal Reserve System voted unanimously to lower the interest rate paid on required and excess reserve balances to 1.80 percent, effective September 19, 2019. Setting the interest rate paid on required and excess reserve balances 20 basis points below the top of the target range for the federal funds rate is intended to foster trading in the federal funds market at rates well within the FOMC’s target range.
Fed lowers Interest on Excess Reserves to 1.8%
CME Group Announces SOFR Futures Trading Volume and Open Interest Records
Fed will conduct a third repo injection up to $75 billion on Thursday September 19, 2019