Source: Federal Reserve Bank of New York  

Release: Temporary Open Market Operations  

Units:  Percent, Not Seasonally Adjusted

Frequency:  Daily

The rate set by the FOMC for Standing Repo (SRP) operations transactions reported by the New York Fed as part of the Temporary Open Market Operations.

Temporary open market operations involve short-term repurchase and reverse repurchase agreements that are designed to temporarily add or drain reserves available to the banking system and influence day-to-day trading in the federal funds market.

A repurchase agreement (known as repo) is a transaction in which the New York Fed under the authorization and direction of the Federal Open Market Committee buys a security to an eligible counterparty with an agreement to resell that same security at a specified price at a specific time in the future. For these transactions, eligible securities include U.S. Treasury securities, agency debt securities, and agency mortgage-backed securities.

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