Fed aims to counter tensions with new operations

The New York Federal Reserve said on Monday that it will inject extra funds from now until the new year in a bid to counter "heightened pressures in money markets."

The extra funds will come through additional term repurchase agreements, the first of which is due to take place on 28 November, injecting about $8 billion and maturing on 10 January 2008.

"The timing and amounts of subsequent term operations spanning the year-end will be influenced by market and reserve developments," the New Yor

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