August 15, 2007 (LPAC)--The Federal Reserve said today it added an additional $7 billion in temporary reserves to the banking system, through overnight repurchase agreements, mostly of mortgage-backed securities. The operation, done manually, came after a "technical" problem had led to the earlier cancellation of an initial repurchase agreement. Plus, it "stands ready to conduct further operations later in the day if needed," according to a statement by the New York Fed.

Since August 9, the Fed has, so far, injected $69 billion of liquidity.