The Federal Reserve took out $830 million in reserves from the banking system when it arranged seven-day tri-party reverse repurchase deals, Bloomberg reports. The transactions, which do not represent any change in monetary policy, are part of a series of open-market operations that began in 2009. Eligible collateral included Treasuries, agencies and agency mortgage-backed securities. JPMorgan Chase and Bank of New York Mellon are the only banks that serve in a trade-clearing capacity in the tri-party repo market.

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