Fed says coupon pass added $642 million reserves

UNITED STATES - The Federal Reserve said on 30 August it added $642 million permanent banking reserves through its purchase of U.S. Treasury securities dated Nov. 15, 2008 through Feb. 15, 2021, for delivery today, 31 August.

The action was the Fed's third open market intervention of the session.

In morning dealings, federal funds were trading at 3.56 percent, according to Garban-Intercapital, above the Fed's 3.5 percent target for the rate.

The Fed excluded all Treasury inflation protected secu