October 25, 2019 / 12:50 PM / a month ago

NY Fed accepts $77.343 bln in overnight repo bids

NEW YORK, Oct 25 (Reuters) - The New York Federal Reserve on Friday accepted $77.343 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.

Friday’s amount was lower than the $89.154 repos awarded on Thursday.

The U.S. overnight repo rate was up slightly at 1.9% after the NY Fed operation, from 1.85% on Thursday. (Reporting by Gertrude Chavez-Dreyfuss; editing by David Clarke)

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