Busy Day At The Federal Reserve

Requests for additional liquidity from the New York Federal Reserve this morning were $140 billion. In three separate repo operations, in which the Fed lends out money on a short-term basis in exchange for collateral, the NY Fed saw requests for around $140 billion dollars from financial institutions. In addition, the Fed is conducting $25 billion auction under it's new term lending facility, which provides banks with longer term credit. Although the NY Fed lent out only around $21 billion in its repo operations. More than $31 billion of the funds requested today were to be backed by mortgage-backed securities. The Ny Fed repo'd only about $53 million. The largest requests came for the Fed's 14 day repo operation, the longest conducted today. Earlier this week, the NY Fed saw $64 billion in mortgage backed repo submissions. It accepted $20 billion of those for a term of 28 days. Requests at the Federal Reserves repo window were $145.4 billion last Thursday, $133.5 billion the week p...
Originally from: http://dealbreaker.com/2008/07/busy_day_at_the_federal_reserv.php

22.7.08 10:56

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