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New York Fed boosts value of certain overnight repo purchases to at least $150B

The Federal Reserve Bank of New York has released the schedule of repurchase agreement operations for the monthly period from Dec. 13 through Jan. 14, 2020.

The overnight repo offering will increase to at least $150 billion on Dec. 31 and Jan. 2, 2020. The New York Fed will also offer a $75 billion repo on Dec. 30 that settles Dec. 31 and matures Jan. 2, 2020.

Additionally, the New York Fed's trading desk will continue to offer two-week term repo operations twice every week, four of which span year-end. The desk will also offer a longer-maturity term repo operation of at least $50 billion that spans year-end.

The repo operations aim to "ensure that the supply of reserves remains ample and to mitigate the risk of money market pressures around year-end that could adversely affect policy implementation," according to a statement issued by the Open Market Trading Desk at the Federal Reserve Bank of New York.