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New York Fed to inject 150 billion USD daily into financial market over Wuhan coronavirus

Christian Fernsby |
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, as concerns over Wuhan coronavirus continued to cloud the global financial markets.

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"Beginning today and 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 and Mar 12, 2020 from at least $20B to at least $45B," the New York Fed said Monday on Twitter.

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