(Worthy News) - The Federal Reserve on Wednesday continued its effort to stabilize money markets and contain interest rates with another $75 billion sale of overnight repurchase agreements, or repos.
The sale was oversubscribed, as banks sought about $92 billion in overnight repos, indicating rising demand for the asset. Banks offered Treasurys and mortgage-backed securities as collateral.
The offering followed a $105 billion injection on Monday, which included $75 billion in overnight repos and $30 billion in repos expiring in 14 days. [ Source: Business Insider (Read More...) ]
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