The Federal Reserve Bank of New York added $70.1 billion in temporary liquidity to financial markets on Wednesday.

The intervention via overnight repurchase agreements, or repos. Eligible banks offered the Fed $54.9 billion in Treasurys and $15.2 billion in mortgage securities, and the Fed accepted all of it.

The Fed also bought $7.5 billion in Treasury bills. Dealers offered the Fed $22.31 billion.

Fed repo interventions take in Treasury and mortgage securities from eligible banks in what is effectively a short-term loan of central-bank cash, collateralized by the securities.

The Fed’s interventions are aimed at ensuring that the financial system has enough liquidity and that short-term borrowing rates are stable and consistent with Fed goals, with the central bank’s federal-funds rate staying within the 1.5%-to-1.75% target range. The effective fed-funds rate stood at 1.55% on Tuesday. The broad general collateral rate for repo trading stood at 1.51%, also for Tuesday.