NEW YORK, April 7 (Reuters) - The U.S. interest rate that the Federal Reserve targets to conduct its monetary policy remained at 0.37 percent for a fourth day on Wednesday, according to Fed data released on Thursday.
The average, or effective, fed funds rate traded in a range of 0.35 percent to 0.55 percent with $76 billion in this type of interbank loan changing hands.
On Tuesday, the fed funds rate traded in a range of 0.35 percent to 0.55 percent with $77 billion changing hands.
Meanwhile, the Fed's overnight bank funding rate was 0.37 percent for a fourth day on Wednesday.
This rate is calculated using fed funds and certain Eurodollar transactions, intended as a broader measure of unsecured borrowing in U.S. money markets.
These transactions changed hands in a range of 0.25 percent to 0.44 percent on Wednesday, compared with Tuesday's range of 0.28 percent to 0.43 percent.
The New York Fed said Wednesday's rate was based on $292 billion worth of loans, compared with $291 billion on Tuesday.
(Reporting by Richard Leong; Editing by Chizu Nomiyama)