N.Y. Fed awards $54.85 billion in overnight repos

[October 01, 2019]  NEW YORK (Reuters) - The New York Federal Reserve on Tuesday awarded $54.85 billion to primary dealers at an operation of overnight repurchase agreements in an effort to maintain the federal funds rate within its target range of 1.75%-2.00%.

Tuesday's amount was smaller than the $63.5 billion in overnight repos the regional central bank awarded on Monday, the New York Fed website showed.

(Reporting by Kate Duguid)

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