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Strategies & Market Trends : Don't Drink the Kool-Aid Kids

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To: Stoctrash who wrote (804)8/27/2001 10:25:34 AM
From: John Pitera   of 1063
 
second open market operation of the session???

Monday August 27, 9:30 am Eastern Time
Fed adds reserves via overnight fixed system repos
(UPDATE: Updates with second operation)

NEW YORK, Aug 27 (Reuters) - The Federal Reserve said on Monday it was adding temporary reserves to the banking system through overnight fixed system repurchase agreements, its second open market intervention of the session.

Earlier, the Fed added $2.0 billion through 28-day fixed system repos. The Fed accepted the following collateral:

-- $1.275 billion in Treasuries, stop out 3.46 percent,
-- $0.400 billion in agencies, stop out 3.51 percent.
-- $0.325 billion in MBS, stop out 3.52 percent.

In morning dealings, federal funds were trading at 3.56 percent, above the Fed's 3.50 percent target for the rate.

biz.yahoo.com
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