The Federal Reserve Bank of New York issues "​Statement Regarding Repurchase Agreements Covering Year-​End". "In response to heightened pressures in money markets for funding through the year-​end, the Federal Reserve Bank of New York'​s Open Market Trading Desk plans to conduct a series of term repurchase agreements that will extend into the new year," says the release. See Bloomberg, Financial Week, and Wall Street Journal stories. WSJ says, "​The New York Fed'​s announcement follows a similar announcement by the European Central Bank Friday that it stood ready to provide funding over the year-​end to counter strains in the euro-​zone money markets."

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