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The New York Fed said it would expand the size of repurchasing agreements starting from Thursday, as part of its operations to inject liquidity into the financial system. The New York Fed said it would increase the amount offered in overnight repo operations to at least $120 billion from Oct. 24 to Nov. 14., and increase the amount offered for longer-term repo agreements to at least $45 billion on Oct. 24 and Oct. 29. The New York Fed’s actions comes after the overnight repo rate, or how much hedge funds and banks have to pay to borrow for short periods in return for pledging collateral such as Treasurys, rose so high in September that the Fed’s benchmark interest rate briefly pushed above its target range. Since then, the New York Fed has regularly stepped in to prevent strains from resurfacing in funding markets.