November 19, 2019 / 1:56 PM / 22 days ago

NY Fed accepts $78.3 bln in overnight repo bids

NEW YORK, Nov 19 (Reuters) - The New York Federal Reserve on Tuesday accepted $78.3 billion in overnight bids from primary dealers at a repurchase agreement (repo) operation aimed at keeping the federal funds rate within the target range.

Tuesday’s amount was higher than the $61.043 billion accepted on Monday.

The U.S. overnight repo rate on Tuesday was 1.64%, up from Monday’s 1.60%. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Andrew Heavens)

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