New York Fed to tighten repo operations

New York skyscrapers and flag

The Federal Reserve Bank of New York will slightly tighten some repo market operations after seeing “substantial improvements” in dollar funding markets, it announced on June 11.

From June 16, the lowest rate offered on the overnight and one-month repo operations will be raised to 5 basis points and 10bp above the interest on excess reserves (IOER) respectively. Currently, the minimum rates are equal to IOER, which is 0.1%.

Lorie Logan, vice-president of the New York Fed’s markets group

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:

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: