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NY Fed accepts $1 billion in bids submitted at 28-day repo operation

© Reuters. FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington© Reuters. FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington

BOSTON (Reuters) – The New York Federal Reserve said on Monday it accepted $1 billion in bids submitted by primary dealers in a 28-day repurchase agreement operation, a move intended to keep the federal funds rate within its target range.

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