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Reply #23: and again: Fed adds $8.5 bln in reserves through overnight repo
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UpInArms
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Wed Sep-05-07 09:02 AM
Response to Reply #22 |
23. and again: Fed adds $8.5 bln in reserves through overnight repo |
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http://www.reuters.com/article/bondsNews/idUSN0520857520070905NEW YORK, Sept 5 (Reuters) - The U.S. Federal Reserve said on Wednesday it added $8.5 billion of temporary reserves to the banking system through overnight repurchase agreements.
The Fed said the collateral accepted on the overnight repurchase was made up of $8.5 billion of Treasuries. A total of $48.65 billion in bids were submitted for the overnight repurchase.
Federal funds, the benchmark overnight lending rate to banks, last traded at 5.25 percent, matching the Fed's targeted rate.
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