NEW YORK, Nov 18 (Reuters) - The New York Federal Reserve on Monday accepted $61.043 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 lower than the $68.34 repos accepted on Friday.
The U.S. overnight repo rate is currently at 1.64% after the NY Fed operation, little changed from 1.62% on Friday. (Reporting by Gertrude Chavez-Dreyfuss. Editing by Jane Merriman)