December 8, 2015 / 1:21 PM / 2 years ago

U.S. fed funds rate remains at 0.13 percent

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The Federal Reserve headquarters in Washington September 16 2015.Kevin Lamarque

NEW YORK (Reuters) - The U.S. federal funds rate USONFFE=, which banks charge each other to borrow excess reserves, averaged 0.13 percent for a fifth day on Monday, according to Federal Reserve data released on Tuesday.

The average, or effective, fed funds rate, which the Fed targets to achieve its rate objective, traded in a range of 0.06 percent to 0.35 percent for a third straight session on Monday.

Reporting by Richard Leong

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