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Financials

NY Fed accepts $77.58 bln in overnight repo bids

Nov 4 (Reuters) - The New York Federal Reserve on Monday accepted all $77.58 billion in bids from primary dealers at a repurchase agreement (repo) operation, a move intended to help maintain the federal funds rate within the target range.

Monday’s amount was slightly higher than the $73.13 billion in repos awarded on Friday.

The U.S. overnight repo rate was last at 1.67%. (Reporting By Karen Brettell; Editing by Catherine Evans)

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