Fed to hold term reverse repo operations in December

Says it planned to offer $300 billion in term reverse repos that mature in early January

The US Federal Reserve will conduct three longer-dated reverse repurchase agreement operations in December, according to a statement released on Wednesday on the New York Fed website.

The US central bank said these latest "term" reverse repos are part of its ongoing review as to how these will be used to achieve its interest rate objectives when it decides to tighten policy.

The Fed said it planned to offer $300 billion in term reverse repos that mature in early January in addition to its overnight reverse repos.

The first of the December term reverse repos will take place on December 18, followed by one on December 23 and another on Dec. 30.