> On Tuesday morning, the NY Fed launched what's called an "overnight repo operation," during which the central bank attempts to ease pressure in markets by pur

> On Tuesday morning, the NY Fed launched what's called an "overnight repo operation," during which the central bank attempts to ease pressure in markets by purchasing Treasuries and other securities. It was my (perhaps mistaken?) understanding that the Fed operates an overnight repo facility regularly - like, every night. It reads like CNN is reporting this like an exceptional emergency maneuver. Is the newsworthiness in fact just the size of the liquidity injection, and CNN is a little confused about what the ON repo does? Or am I mistaken about the Fed making overnight repo agreements regularly?