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Banking, Economy

“New York Fed Adds $82.7 Billion To Financial System in Latest Repo Transaction”

“The Federal Reserve Bank of New York added $82.7 billion to the financial system Friday, using the market for repurchase agreements, or repo, to relieve funding pressure in money markets.

Banks asked for $21.15 billion in 6-day loans, all of which was accepted by the Fed, offering collateral in the form of Treasury and mortgage securities.

In a second separate operation, banks asked for $61.55 billion in overnight reserves, all of which the Fed accepted, also offering collateral in the form of Treasury and mortgage securities…”

https://www.wsj.com/articles/new-york-fed-adds-82-7-billion-to-financial-system-in-latest-repo-transaction-11570801329

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