The Federal Reserve is again increasing the amount of money it’s providing to banks for overnight borrowing, raising the top level now to $175 billion. In an announcement Wednesday afternoon, the New York Fed said it would boost the top level it provides in overnight operations to at least $175 billion from the $150 billion level it had just set Monday. “Consistent with the FOMC directive to the Desk, these operations are intended to ensure that the supply of reserves remains ample and to mitigate the risk of money market pressures that could adversely affect policy implementation,” the Fed’s statement...
