NEW YORK (Reuters) - The New York Federal Reserve on Tuesday accepted just $35 billion of the $52.2 billion in bids from primary dealers at a repurchase agreement (repo) operation, a move intended to help maintain the federal funds rate within the target range.
Tuesday's amount was lower than the $58.15 billion overnight repos awarded on Monday.
The U.S. overnight repo rate was slightly higher at 1.93%-1.95%
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Angus MacSwan)
