The Federal Reserve Bank of New York is prepared to adapt its recent market operations in response to year-end funding needs, Lorie Logan, the acting head of the markets group said on November 4.

The open markets desk has been conducting overnight repo operations to ease funding pressures, after some market transactions recorded rates higher than 9% on September 17. The sharp spike in rates was extremely rare and prompted widespread debate over the root causes.

Each day since September 24, the