Fewer Reverse Repo Counterparties
The Federal Reserve Bank of New York has twice revised its "Reverse Repo Counterparties" list over the past two and a half weeks. A note entitled, "Reverse repo counterparties list updated says, "The following money market funds are no longer reverse repo counterparties, effective August 27." These include: Federated Hermes Capital Reserves Fund, Federated Hermes Institutional Money Market Management, Federated Hermes Tax-Free Obligations Fund, General Money Market Fund (BNY Mellon Investment Adviser, Inc.), Goldman Sachs Investor Tax-Exempt Money Market Fund, Master Treasury Strategies Institutional Portfolio (BlackRock Advisors, LLC), PFM Funds Government Select Series, Premier Portfolio, a series of the AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust), STIT Liquid Assets Portfolio (Invesco Advisers, Inc.), T. Rowe Price Cash Reserves Fund and Wells Fargo Cash Investment Money Market Fund. Earlier in August, the NY Fed wrote, "Fidelity Colchester Street Trust: Prime Money Market Portfolio and Fidelity Colchester Street Trust: Prime Reserves Portfolio are no longer reverse repo counterparties, effective August 14." See the Fed's "Revised List of Counterparties here."
