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New York Fed increases repo support to keep markets running smoothly

imageEconomy8 hours ago (Mar 11, 2020 03:01PM ET)

NEW YORK (Reuters) – The New York Federal Reserve said it will increase the amount of liquidity it provides to overnight lending markets through mid-April.

The central bank is increasing the maximum offering of its daily operations in the market for repurchase agreements, or repo, to $175 billion. It will also introduce three one-month term repo operations of at least $50 billion each, with the first one being offered on Thursday.

New York Fed increases repo support to keep markets running smoothly

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