Fed to flood repo market with up to $5.5 trillion
The Federal Reserve of New York has just announced a massive liquidity package to help calm virus-related disruptions in Treasury markets.
A total of $1.5 trillion will be available this week for banks to borrow across three term repo operations: one today (March 12), and two on March 13. The New York Fed will issue two three-month terms and one one-month term.
Another $4 trillion will be available across eight term repo operations from March 16 until April 13, with the NY Fed issuing one
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