NY Fed cuts asset requirements for reverse repo 28 September 2010New York Reporter: Ben Wilkie
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The Federal Reserve Bank of New York has announced that the amount of net assets for money funds to be eligible to take part in reverse repo transactions has been halved.
The Fed is also expanding counterparties for reverse repo transactions. The latest rules mean money market funds must now have net assets of at least USD10 billion for six consecutive months before application, half the previous amount.
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