Fed expands daily repo operations
Recent auctions show banks still have a strong demand for liquidity following last month’s rate spike
The Federal Reserve expanded the size of its daily repo operations today (October 24), which are being used to ensure banks have ample cash at hand following last month’s liquidity episode.
From today until at least January 2020, overnight repo operations conducted by the New York Fed will offer a minimum of $120 billion, up from the $75 billion offered to banks previously. The amount offered for 14-day term repos has also been raised to $45 billion, up from $35 billion.
Today’s operation
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