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Fed to step up cash injections for banks to guard against market pressure

Source: cnbc.com - Mar 9, 2020

The New York Federal Reserve said Monday that it will increase the amount of money it is offering to banks for their short-term funding needs.

As part of its continuing efforts to make sure the funding, or repo, markets are working properly, the central bank said it will up the amount it offers in overnight operations from $100 billion to $150 billion through Thursday.

In addition, it will increase the two-week repo operation offerings from at least $20 billion to at least $45 billion.

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Category: General Business