The New York Federal Reserve Bank will raise the amount of money it offers to banks for short-term funding to at least 150 billion U.S. dollars since Monday, as concerns over COVID-19 continued to cloud the global financial markets.
"Beginning today & through Mar 12, 2020, we will increase the amount offered in daily overnight repos from at least $100B to at least $150B. We will also increase the amount offered in the 2-week term repos on Mar 10, 2020 & Mar 12, 2020 from at least $20B to at least $45B," the New York Fed said Monday on Twitter.
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