- Joined
- Dec 16, 2019

Fed announces $1.5 trillion in capital injections to combat coronavir…
archived 12 Mar 2020 19:11:19 UTC
"The Federal Reserve Bank of New York will start adding fresh capital to money markets on Thursday to pad against coronavirus risks and ease stresses on the Treasury bill market.
The extraordinary funding measure will first involve a $500 billion injection at 1:30 p.m. ET Thursday, the bank said in a Thursday Statement. The cash will be added to money markets through a three-month market repurchase agreement, or repo, operation. One-month and three-month repos for $500 billion each will be conducted on Friday and continue to be offered weekly through the calendar month, the bank added.
The central bank will also expand its $60 billion reserve management purchases to buy up "a range of maturities" roughly matching that seen in Treasury assets outstanding. Securities targeted include Treasury bills, floating rate notes, and nominal coupons. The first such purchase will begin Friday, according to the bank."