Fed Says Adds $17 Billion In 14-Day Repurchase Actions

The U.S. Federal Reserve said on Thursday it added $17 billion of temporary reserves to the banking system through 14-day repurchase agreements, in two separate actions.

At its usual 9:30 am New York time, intervention time, the Fed awarded $12 billion at its overnight repurchase agreement.

Earlier Thursday, the Fed injected $5 billion into the banking system.

The Fed has said it is standing by to add more reserves into the banking system as needed to keep the target rate for federal funds trading around 5.25%.

Market analysts are watching the Fed's open market operations closely to see to what extent the central bank is aiming to ease lending conditions via the money markets, with global investors' aversion to riskier assets on the rise and nervousness rising about tightening conditions in credit markets.

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