Global Analysis from the European Perspective. Preparing for the world of tomorrow

Fed overnight repo operation oversubscribed

The New York Fed’s overnight repo operation offering liquidity to broker-dealers was oversubscribed on Tuesday. The Fed tendered $100 billion of temporary funds in return for high-quality collateral like Treasurys and mortgage-backed bonds, with $108.6 billion of bids offered for the available funds. The longer-term 14-day repo operation of $20 billion was also oversubscribed by around 3.5 times. Source MarketWatch

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