November 14, 2019 / 1:57 PM / 24 days ago

NY Fed accepts $73.59 bln in overnight repo bids

Nov 14 (Reuters) - The New York Federal Reserve on Thursday accepted all $73.59 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.

The amount was less than the $77.09 billion in repos awarded on Wednesday.

The U.S. overnight repo rate was last at 1.65%. (Reporting By Karen Brettell; Editing by Toby Chopra)

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