March 12 (Reuters) - The New York Federal Reserve on Thursday accepted $45 billion from $87.10 billion in bids from primary dealers at a 14-day repurchase agreement (repo) operation.
It was the second oversubscribed term repo operation of the day, after the Fed also accepted $50 billion from $82.6 billion in bids for 25-day loans.
The NY Fed on Wednesday said for the second time this week that it would substantially increase the amount of liquidity it provides to overnight lending markets, signaling that it will do what it can to keep money markets running smoothly during the coronavirus outbreak. (Full Story)
The central bank raised the maximum offering of its daily operations and introduced three one-month term repo operations of at least $50 billion each, with the first one offered on Thursday.
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Reporting By Karen Brettell Editing by Chizu Nomiyama