New York Fed expands year-end repo operations


The Federal Reserve Bank of New York is ramping up the liquidity it will offer through its repo facilities around the new year, after earlier operations showed banks bracing for a cash crunch.

From now until the end of the year, the New York Fed will offer $120 billion a day in its overnight operations, rising to $150 billion for the operation from December 31 to January 2.

Additionally, it is offering $50 billion in a 32-day term operation to be held on December 16. A previous term operation

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