The HSBC Prime Money Market Fund and HSBC US Government Money Market Fund are reverse repo counterparties, effective Feb. 2, the New York Fed said. 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 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 .