NEW YORK, Sept 10 (Reuters) - The U.S. Federal Reserve on Monday said it added $2.75 billion of temporary reserves to the banking system through an overnight repurchase agreement.
Federal funds traded steady in the market at 5.00 percent after the amount was announced, below the 5.25 percent target rate the Fed sets.
The Fed said it accepted as collateral in the repurchase operation $2.07 billion of Treasuries, $340 million of agency debt and $340 million of mortgage-backed securities.
A total of $30.05 billion in bids were submitted for the operation.
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