The New York Fed added $62.542 billion to financial markets Wednesday.
The intervention came via overnight purchase agreements in which eligible banks submitted $55.042 billion in Treasurys and $7.5 billion in mortgage-backed bonds to the central bank.
Fed repo interventions take in Treasury and mortgage securities from eligible banks in what is effectively a short-term loan of central-bank cash, collateralized by the bonds. The Fed’s injections are aimed at ensuring that the financial system has enough liquidity and that short-term borrowing rates remain well-behaved.