The Federal Reserve Bank of New York is planning to implement small-scale reverse repurchase agreement transactions in the coming weeks, The Wall Street Journal reports. Reverse repos, which are not aimed at altering the monetary policy, are to drain liquidity from the financial system.

The bank is looking to reverse the substantial cash injections it has made into the banking system during the global financial crisis. Reverse repos involve selling securities with an agreement to buy them back in future at a slightly higher price.

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