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Financials

NY Fed accepts $76.94 bln in overnight repo bids

Nov 12 (Reuters) - The New York Federal Reserve on Tuesday accepted all $76.94 billion in bids from primary dealers at an overnight repurchase agreement (repo) operation, a move intended to help maintain the federal funds rate within its target range.

Tuesday’s amount was higher than the $70.64 billion in repos awarded on Friday.

The U.S. overnight repo rate was last at 1.64%. (Reporting By Karen Brettell)

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