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[Rogerdodger]

FED injects $17.25B Thursday
The US Federal Reserve injected 17.25 billion dollars into the financial system in three actions Thursday, the latest in a series of moves designed to ease a credit squeeze in global markets. The Federal Reserve Bank of New York, which handles the overnight repurchase agreements for the Fed, announced the actions on its website.

A first injection of seven billion dollars at 8:30 am (1230 GMT) was followed by another of the same amount at 9:40 am and a third of 3.25 billion at 9:55 am.

The latest injections brought the total to 120.5 billion dollars added to money markets in repurchase agreements in the past two weeks.

Central banks began a series of major cash infusions on August 9 to ease tightening credit due to a crisis in the US high-risk subprime mortgage sector.

The US central bank on Friday unexpectedly slashed its discount rate to commercial banks to 5.75 percent from 6.25 percent to ease lending between banks.




Temporary Open Market Operations

[kc135a]

FED injects $17.25B Thursday
The US Federal Reserve injected 17.25 billion dollars into the financial system in three actions Thursday, the latest in a series of moves designed to ease a credit squeeze in global markets. The Federal Reserve Bank of New York, which handles the overnight repurchase agreements for the Fed, announced the actions on its website.

A first injection of seven billion dollars at 8:30 am (1230 GMT) was followed by another of the same amount at 9:40 am and a third of 3.25 billion at 9:55 am.

The latest injections brought the total to 120.5 billion dollars added to money markets in repurchase agreements in the past two weeks.

Central banks began a series of major cash infusions on August 9 to ease tightening credit due to a crisis in the US high-risk subprime mortgage sector.

The US central bank on Friday unexpectedly slashed its discount rate to commercial banks to 5.75 percent from 6.25 percent to ease lending between banks.




Temporary Open Market Operations

Yup, they increased the slosh by 3.25 to 22.25. Basically, a low Slosh and a non event.

KC

[JAP]

Man, I wish I had access to Bernanke's printing press!

[Rogerdodger]

Here's Uncle Ben's bedroom.
It features a King sized bed made of 2 million $100 bills:
Imagine what $120 Billion looks like.

Edited by Rogerdodger, 24 August 2007 - 12:11 AM.

[skyymaster]

Here's Uncle Ben's bedroom.
It features a King sized bed made of 2 million $100 bills:
Imagine what $120 Billion looks like.

Rog, that ($120) would probably be his backyard and his pool.

[Iblayz]

I predicted on Wednesday that there would be some noise about Thursday's "big injections" right here.

http://www.marketswi...mp;postcount=19

You will more than likely hear some noise about "Fed Intervention" tomorrow in terms of adding liquidity to the banking system. It seems like half the known world is watching this now. Most of the known world doesn't know anything about it. As an example....today they will say that the Fed added 2 billion in liquidity. But they didn't. So far they have drained 1.75 billion in liquidity. I will be away the rest of the day so if they do anything more I won't see it till later. I stepped in again to do this cause it looked like Lee needed some help. 14 billion EXPIRES tomorrow including 12 billion in 14 day repos. So there should be a big "injection". But don't forget what appears to have been a pre-announced POMO for tomorrow.



We keep the temporary float updated over there regularly. The bottom line as has already been posted here is they only added 3.25 billion because of expirations. The float was 19 billion on 8/13 and only 22.25 billion yesterday. Really just noise now that everyone is paying attention to the injections which have been going on daily via repos (primarily overnight) for years.