November 6, 2019 / 1:41 PM / 14 days ago

NY Fed accepts $62.54 bln in overnight repo bids

Nov 6 (Reuters) - The New York Federal Reserve on Wednesday accepted all $62.54 billion in bids from primary dealers at an overnight repurchase agreement (repo) operation, a move intended to help maintain the federal funds rate within its target range.

Wednesday’s amount was lower than the $71.04 billion in repos awarded on Tuesday.

The U.S. overnight repo rate was last at 1.62%. (Reporting By Karen Brettell; editing by John Stonestreet)

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