New York Fed launches longer-term liquidity fix

New York skyscrapers and flag

The Federal Reserve Bank of New York has told US monetary policy-makers it will be revising the interest paid on the overnight repo facility used by foreign central banks, December minutes reveal.

The move aims to reduce activity in the foreign repo pool, which was widely seen as a contributing factor to September’s funding squeeze.

The foreign repo pool is a service the Fed has long provided to other central banks. It lets overseas central banks invest in overnight reverse repurchase

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: