(Bloomberg) -- The Federal Reserve Bank of New York said it will reduce the frequency of some repo operations during this monthly period “in light of more stable repo market conditions,” according to its website.
From May 4 it will return to regularly conducting one overnight repo operation per day in the morning, and remove the afternoon overnight repo operation, it said. The frequency of three-month repo operations will be reduced to once every two weeks from once a week, although it will continue to conduct one-month repo operations once per week.
The overnight offerings will be conducted at a maximum of $500b per operation, in line with most recent actions. Various term repo operations will also have a maximum limit of $500b apiece.
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