November 15, 2019 / 1:40 PM / a month ago

NY Fed accepts $68.34 bln in overnight repo bids

Nov 15 (Reuters) - The New York Federal Reserve on Friday accepted all $68.34 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.

The amount was less than the $73.59 billion in repos awarded on Thursday.

The U.S. overnight repo rate was last at 1.64%. (Reporting By Karen Brettell; Editing by David Clarke)

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