U.S. Fed accepts $755.8 bln in daily reverse repo operation -NY Fed

NEW YORK, June 17 (Reuters) - The Federal Reserve accepted $755.8 billion in its daily reverse repurchase operation on Thursday at a rate of 0.05%, the New York Fed said.

The U.S. central bank on Wednesday made a technical adjustment to interest rates it manages, at the end of its two-day policy meeting, aimed at keeping its key overnight benchmark interest rate from falling too low.

The Fed raised the interest rate it pays banks on reserves held at the U.S. central bank to 0.15% and also lifted the rate it pays on overnight reverse repurchase agreements to 0.05%, a tool used to set a floor on short-term interest rates.

(Reporting by Gertrude Chavez-Dreyfuss Editing by Chris Reese)

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.