Moreover, as US repo rates traded at even lower levels to the extent that they largely reflect trades with non-banks that do not hold a Fed account such as government sponsored entities and money market funds, the Fed introduced its overnight reverse repurchase agreement operations (RRPs), which has allowed it to effectively steer 3/4  BIS central bankers' speeches  money market rates and engineer a successful lift-off of rates.
Reverting to the purpose of this meeting, we are here to: review progress on the implementation of the decisions of the 16th MAC Meeting held in Kampala on May 23, 2013; consider strategic objectives to operationalize the EAMU Protocol and update on IMF Technical Assistance in support of financial markets development in the transition to the East African Monetary Union (EAMU).