New York Fed injects USD 75 bn into US money market

The New York Federal Reserve Bank intervened in US financial markets Wednesday for a second day, injecting USD 75 billion into money markets to keep interested rates in line with the central bank's target range, the bank said in a statement.

Unlike the so-called repo operation on Tuesday, when only USD 53 billion of the offered amount was used, on Wednesday the New York Fed received USD 80 billion in requests for the USD 75 billion offered.