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Sept. 20, 2019, 11:25 a.m. EDT

Fed plans to conduct daily repo operations until October 10

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By Sunny Oh

The New York Fed outlined a schedule on Friday that would see it conduct daily repurchasing operations through October 10. The repurchasing rate is the amount borrowers like banks and hedge funds pay for short-term funds in return for highly rated collateral. The central bank said it would carry out daily overnight repos of up to $75 billion. In addition, it said it would conduct three so-called term repos of $30 billion every week until October 10. These repos would have borrowers taking out funds for a longer period of 14 days. After October 10, the central bank said it would conduct repo operations as necessary.

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