Wednesday, November 4, 2009

Fed confirms reverse repo tests

"This work is a matter of prudent advance planning by the Federal Reserve, and no inference should be drawn about the timing of monetary policy tightening," the New York Fed said.

"Over the past year, the New York Fed has been working internally and with market participants on operational aspects of reverse repos to ensure that this tool will be ready when and if the Federal Open Market Committee decides they should be used."

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