The US Federal Reserve has selected two of HSBC 's largest money market funds as participants in its reverse repurchase agreement programme . The reverse acquisition programme is viewed as a critical policy tool for the US central bank to drain money from the financial markets in an effort to achieve its interest rate targets .
The US Federal Reserve has added two of HSBC's US money market funds as participants in its reverse repurchase agreement programme. The reverse repo programme is viewed as a critical policy tool for the US central bank to drain money from the financial system in an effort to achieve its interest rate objectives.