March 12, 2020 / 1:11 PM / 19 days ago

NY Fed accepts $103.10 bln at overnight repo operation

March 12 (Reuters) - The New York Federal Reserve on Thursday accepted all of $103.10 billion in bids from primary dealers at an overnight repurchase agreement (repo) operation.

It comes after two term repo operations on Thursday were oversubscribed.

The NY Fed on Wednesday said for the second time this week that it would substantially increase the amount of liquidity it provides to overnight lending markets, signaling that it will do what it can to keep money markets running smoothly during the coronavirus outbreak.

The central bank raised the maximum offering of its daily operations and introduced three one-month term repo operations of at least $50 billion each, with the first one offered on Thursday.

For more details, see:

here (Reporting By Karen Brettell)

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