September 26, 2019 / 7:33 PM / a month ago

N.Y. Fed sets sizes on repo operations on Friday

NEW YORK (Reuters) - The New York Federal Reserve set the limits on its two scheduled repurchase agreement (repo) operations on Friday, which are aimed to help maintain the federal funds rate within its current target range of 1.75%-2.00%.

The regional central bank, which conducts repos and other open market operations for the Fed system, set the aggregate operation limit on overnight repos for Friday at $100 billion and on 14-day repos at $60 billion.

Reporting by Richard Leong

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