NEW YORK (Reuters) - The New York Federal Reserve on Thursday accepted all $44.15 billion in overnight bids from primary dealers in a repurchase agreement (repo) operation meant to keep the federal funds rate within the target range.
On Wednesday, the Fed accepted $49.826 billion in overnight repo bids.
The U.S. overnight repo rate on Thursday was 1.58% before the repo operation, versus Wednesday's 1.6%.