News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

News

US Fed injects more into money markets after banks ask for funds

Short-term funding spike raises hopes for future Fed cuts

Banks on Wednesday snapped up $75bn on offer from the Federal Reserve Bank of New York in a second day of intervention meant to ease a crunch in overnight funding markets.

Banks asked for $80.05bn in funding in the auction, $5bn more than the amount offered by the Fed. At Tuesday’s auction, the first in a decade, banks took $53bn of the $75bn on offer.

WSJ Logo