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To: pallmer who wrote (6277)3/5/2003 12:47:41 PM
From: pallmer  Read Replies (1) of 29604
 
-- Fed adds $1.318 bln in reserves via coupon pass --

(Adds volume)
NEW YORK, March 5 (Reuters) - The Federal Reserve said on
Wednesday it added $1.318 billion in permanent bank reserves by
buying U.S. Treasury coupons dated April 30, 2003 through Nov.
30, 2003, its sixth such purchase in the past month after a
long hiatus, as it has sought to meet big demand for cash.
Details of the coupon pass are available on the New York
Fed's web site
newyorkfed.org.
Earlier, the Fed added a combined $1.75 billion in
temporary reserves through overnight repurchase agreements.
Federal funds were trading at 1.25 percent, matching the
central bank's target for the rate.
((Reporting by Eric Burroughs; editing by Andre Grenon;
ReutersMessaging: eric.burroughs.reuters.com@reuters.net; +1
646 223 6311))

(C) Reuters 2003. All rights reserved. Republication or redistribution of
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nN05453381
FED/

05-Mar-2003 17:44:03 GMT
Source RTRS - Reuters News
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