November 21, 2019 / 2:05 PM / 20 days ago

NY Fed accepts $74.45 bln bids in overnight repo bids

NEW YORK, Nov 21 (Reuters) - The New York Federal Reserve on Thursday accepted $74.45 billion in overnight bids from primary dealers at a repurchase agreement (repo) operation, a move intended to keep the federal funds rate within the target range.

Thursday’s accepted bids were little changed from Wednesday’s, which totaled $74.35 billion.

The U.S. overnight repo rate on Thursday rose to 1.70% after the repo operation, compared with Wednesday’s 1.55%. (Reporting by Gertrude Chavez-Dreyfuss Editing by Chizu Nomiyama)

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