NY Fed unveils new measures to tackle year-end funding pressures
Fed is expecting a “sharp increase” in flows out of reserves during December, statement says
The Federal Reserve Bank of New York has announced term repo operations to help offset any shortage of reserves at year-end.
From today (November 15) through to December 12, the open markets desk will offer term repos that will extend past the end of the year. The Fed hopes to ensure banks are not left short of cash following “anticipated” flows of funds out of reserves, it said in a November 14 statement.
The Fed is expecting a “sharp increase” in the non-reserve liability portion of its
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