Effective Monday, December 19, 2022, limits for Overnight Repo (OR) operations will increase to $1 billion for each eligible participant. At the same time, the maximum aggregate cash-value limit will increase to $5 billion from the previous $1.5 billion limit per offering. The Bank is increasing these limits to enhance the effectiveness of its monetary policy implementation operations. OR operations will continue to be conducted with Primary Dealers as a competitive uniform auction format with minimum bid rate set at the Bank’s target for the overnight interest rate. The time for OR operations remains unchanged when ... (full story)