NY Fed increases reverse repo ceiling

The Federal Reserve of New York announced today (March 18) that it increased the per-counterparty ceiling for overnight reverse repurchase agreements.

Counterparties may now make overnight reverse repo contracts of up to $80 billion, up from the previous limit of $30 billion. The Federal Open Market Committee ordered this change after its March 16–17 meeting. The FOMC also kept the policy rate unchanged at 0% to 0.25%, and continued $120 billion per month in quantitative easing.

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