Federal Reserve

The Fed's 'repo' operations explained

Repos are short-term loans that provide a financial cushion for U.S. banks and other financial institutions when markets look like they're about to freeze. 

New York Fed pumps liquidity into markets

U.S. equity markets more than halved their losses following the announcement with the Dow Jones Industrial Average briefly trimming its losses from about 2,000 points to 800 points in a matter of minutes.