October 16, 2019 / 1:15 PM / a month ago

NY Fed accepts $75 bln in overnight repo bids

NEW YORK, Oct 16 (Reuters) - The New York Federal Reserve on Wednesday accepted $75 billion in bids from primary dealers at a repurchase agreement (repo) operation, in efforts to help maintain the federal funds rate within the target range.

Wednesday’s amount was bigger than the $67.6 billion in overnight repos the regional central bank awarded on Tuesday, the NY Fed website showed.

The U.S. overnight repo rate was between 2.12%-2.18% before NY Fed operation. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Toby Chopra)

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