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*** Repo operation trifecta: * N.Y. FED.....>

US TSYS
US TSYS: *** Repo operation trifecta:
* N.Y. FED TO CONDUCT REPO OPERATIONS FROM 8:15-8:30AM THURSDAY -- "in order to
help maintain the federal funds rate within the target range of 1-3/4 to 2
percent. This repo operation will be conducted with Primary Dealers for up to an
aggregate amount of $75 billion.
* Sources point out item: "Primary Dealers will be permitted to submit up to two
propositions per security type. There will be a limit of $10 billion per
proposition submitted in this operation. Propositions will be awarded based on
their attractiveness relative to a benchmark rate for each collateral type, and
are subject to a minimum bid rate of 1.80 percent."
* Like today's operation, Thursday's likely to be oversubscribed (and more
aggressively).

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