WallStForMainSt: Repo Madness Under Control? NY Fed Announces Today New 28 Day & 42 Day Term Repos!
On Thursday, the New York Fed said it will introduce longer-term operations in the market for repurchase agreements, or repo, giving firms a chance to borrow cash through the end of the year when investors and officials fear that money market volatility will rise again.
The central bank will offer a total of $55 billion in longer-term loans. Two operations lasting 42 days will take place on Nov. 25 and Dec. 2. One operation lasting 28 days will be offered on Dec. 9, according to a schedule released Thursday. That compares with a more typical term of about 14 days previously offered.
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