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*** NY Fed announces adjustment in repo.........>

FED
FED: *** NY Fed announces adjustment in repo operations, "intended to ensure
that the supply of reserves remains ample and to mitigate the risk of money
market pressures that could adversely affect policy implementation".
- Beginning today and through March 12, will increase daily overnight repo size
from 'at least $100bln to at least $150 billion', with 2-week term repo size
from at least $20bln to at least $45bln.
- Term repo especially had been getting squeezed going into this week, big rise
in oversubscriptions in last couple of ops (over $70bln in each of the two
operations last week, vs $20bln offered).
- Link to full announcement here:
https://www.newyorkfed.org/markets/opolicy/operating_policy_200309

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