November 22, 2019 / 1:40 PM / 22 days ago

NY Fed accepts $80.6 bln overnight repo bids

NEW YORK, Nov 22 (Reuters) - The New York Federal Reserve on Friday accepted $80.6 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.

Friday’s accepted bids were higher from Thursday’s, which totaled $74.45 billion.

The U.S. overnight repo rate on Friday was at 1.63% before the repo operation, unchanged from Thursday’s rate. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Alex Richardson)

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