October 4, 2019 / 6:04 PM / 18 days ago

New York Fed extends daily repo operations to Nov. 4

Oct 4 (Reuters) - The New York Federal Reserve will continue to boost liquidity in money markets into November, the bank announced on Friday.

The bank will offer daily repurchase agreement, or repo, operations, offering at least $75 billion a day in daily cash injections through Nov. 4. This extends a policy that was initially supposed to end next week.

The continuation of the daily repo operations ensures that financial firms will be able to turn to the central bank to borrow cash until at least the next Fed meeting, when policymakers are expected to announce a more permanent solution. (Reporting by Jonnelle Marte )

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