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Newfoundland & Labrador > Business > Reuters

NY Fed accepts $1 billion in bids submitted at 28-day repo operation

Reuters | Posted: March 30, 2020, 12:25 p.m. | Updated: March 30, 2020, 11:21 a.m. | 1 Min Read

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BOSTON (Reuters) - The New York Federal Reserve said on Monday it accepted $1 billion in bids submitted by primary dealers in a 28-day repurchase agreement operation, a move intended to keep the federal funds rate within its target range.

(Reporting by Ross Kerber, editing by Louise Heavens)

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