November 14, 2019 / 8:22 PM / 22 days ago

Fed's T-bill purchases to stay at $60 bln for next month -NY Fed

Nov 14 (Reuters) - The Federal Reserve Bank of New York on Thursday said it will purchase $60 billion in short-term Treasury bills through mid-December, keeping up the same pace for the balance sheet expansion program it launched last month in an effort to shore up liquidity in money markets.

The Fed began purchasing Treasury bills in mid-October to increase the level of reserves in the banking system and minimize volatility in money markets. The program was launched in response to a liquidity crunch in mid-September that caused borrowing rates in short-term lending markets to spike to 10%.

Reporting by Jonnelle Marte Editing by Chris Reese

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below