Beginning on Tuesday, November 19, the Open Market Trading Desk of the Federal Reserve Bank of New York (FRBNY) increased the fixed rate offered in its overnight fixed-rate reverse repurchase operations exercise again, this time, from 4 basis points to 5 basis points. All other terms of the exercise remain the same. You can see the latest FRBNY statement here.
These exercises are intended to improve the FRBNY's ability to manage short-term interest rates. The Financial Stability Board, is also seeking comment letters on repurchase reform and additional recommendations. The deadline for the comments is November 28, 2013.
Good day. Good overnight. TSR
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