Categories
Uncategorized

NY Fed Can make technical Alteration due to asset purchases, official says

No results matched your search Economy7 hours ago (Apr 08, 2021 04:25PM ET) © Reuters. The cornerstone for the Federal Reserve Bank of New York is pictured in the Manhattan borough of New York City (Reuters) – The Federal Reserve’s ongoing asset purchases are lifting bank reserves to new highs and contributing to a new…


Investing.com - Financial Markets Worldwide

No results matched your search

Economy7 hours ago (Apr 08, 2021 04: 25PM ET)

NY Fed may make technical adjustment due to asset purchases, official says© Reuters. The cornerstone for the Federal Reserve Bank of New York is envisioned in the Manhattan borough of New York City

(Reuters) – The Federal Reserve’s continuing asset purchases are lifting bank reserves to fresh highs and contributing to a new standard for money markets, a senior New York Fed official said on Thursday.

The regional Fed bank can make minor adjustments to maintain those buys proportional to the outstanding supply of Treasury vouchers and Treasury Inflation-Protected Securities (TIPS), Lorie Logan, an executive vice president at the New York Fed and the manager of the System Open Market Account (SOMA), said in prepared remarks.

The U.S. central bank, which has been purchasing $120 billion in bonds each month to strengthen the market, could also make changes to the rate it pays on bank reserves or on reverse repurchase agreements if desired to maintain its overnight benchmark interest rate within the goal range, she said.

Related Articles

Disclaimer: Fusion Media would like to remind you that the information contained in this website is not necessarily real-time nor true. All CFDs (stocks, indexes, futures) and Forex deals aren’t supplied by exchanges but instead by market manufacturers, and so prices might not be accurate and might differ from the true market cost, meaning prices are indicative rather than appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a consequence of utilizing this information.

Fusion Media or anyone involved in Fusion Media will not accept any liability for loss or damage as a result of reliance on the data such as data, quotes, charts and buy/sell signals contained within this website. Please be fully informed concerning the risks and costs related to trading the financial markets, it’s one of the riskiest investment types possible.

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *