September 30, 2019 / 12:44 PM / 14 days ago

N.Y. Fed awards $63.5 billion in overnight repos

NEW YORK (Reuters) - The New York Federal Reserve on Monday awarded $63.5 billion to primary dealers at an operation of overnight repurchase agreements in an effort to maintain the federal funds rate within its target range of 1.75%-2.00%.

Monday’s amount compared with the $22.7 billion in overnight repos the regional central bank awarded on Friday, the New York Fed website showed.

Reporting by Richard Leong; Editing by Catherine Evans

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