November 8, 2019 / 1:39 PM / 11 days ago

NY Fed accepts $70.64 bln in overnight repo bids

Nov 8 (Reuters) - The New York Federal Reserve on Friday accepted all $70.64 billion in bids from primary dealers at an overnight repurchase agreement (repo) operation, a move intended to help maintain the federal funds rate within its target range.

Friday’s amount was lower than the $80.14 billion in repos awarded on Thursday.

The U.S. overnight repo rate was last at 1.63%. (Reporting By Karen Brettell; Editing by Alex Richardson)

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