January 23, 2020 / 2:32 PM / a month ago

NY Fed accepts $44.15 billion in overnight repo bids: NY Fed website

NEW YORK (Reuters) - The New York Federal Reserve on Thursday accepted all $44.15 billion in overnight bids from primary dealers in a repurchase agreement (repo) operation meant to keep the federal funds rate within the target range.

On Wednesday, the Fed accepted $49.826 billion in overnight repo bids.

The U.S. overnight repo rate on Thursday was 1.58% USONRP= before the repo operation, versus Wednesday’s 1.6%.

Reporting by Gertrude Chavez-Dreyfuss; Editing by Chizu Nomiyama

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