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NY Fed to pump $75 bn into money markets daily through Oct 10

New York (AFP) - The New York Federal Reserve Bank said Friday it will inject billions into the US financial plumbing on a daily basis for the next three weeks in an effort to prevent a spike in short-term interest rates.

The Fed will offer up to $75 billion a day in repurchase agreements -- exchanging secure assets for cash for very short periods -- through October 10, it said in a statement.

In addition, it will offer three 14-day "repo" operations of at least $30 billion each.

...

More at:
https://news.yahoo.com/ny-fed-pump-75-bn-money-markets-daily...
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