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Financials

NY Fed accepts $77.09 bln in overnight repo bids

Nov 13 (Reuters) - The New York Federal Reserve on Wednesday accepted all $77.09 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.

Wednesday’s amount was higher than the $76.94 billion in repos awarded on Tuesday.

The U.S. overnight repo rate was last at 1.60%. (Reporting By Karen Brettell; Editing by Andrew Heavens)

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