March 10, 2020 / 12:26 PM / a month ago

NY Fed accepts $45 bln at oversubscribed 14-day repo operation

March 10 (Reuters) - The New York Federal Reserve on Tuesday accepted $45 billion from $93 billion in bids from primary dealers in a 14-day repurchase agreement (repo) operation.

The oversubscribed operation shows that demand for loans remains high as investors worry about the economic impact of the spreading coronavirus and repercussions from plunging oil prices.

The New York Fed on Monday said it had increased its daily cash injections to the banking system to ensure an ample supply of bank reserves.

For more details, see:

here+ (Reporting By Karen Brettell; Editing by Alex Richardson)

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