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The New DU. Reply #30: Fed adds temporary reserves via 14-day system RPs
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UpInArms
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Thu May-19-05 09:30 AM
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| 30. Fed adds temporary reserves via 14-day system RPs |
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http://www.reuters.com/financeNewsArticle.jhtml?type=bondsNews&storyID=8544665§ion=investingNEW YORK, May 19 (Reuters) - The Federal Reserve said on Thursday it added $12 billion in temporary reserves to the banking system through 14-day system repurchase agreements at a stop-out rate of 2.94 percent.
A week ago, the Fed did a $9 billion 14-day repo at a stop out rate of 2.94 percent.
The stop-out rate is the lowest rate that Fed accepts.
Fed funds last traded at 3.00 percent, the Fed's target for the rate on overnight loans between banks.
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