Demand for overnight funding came in lower than what the Federal Reserve Bank of New York offered Monday, perhaps indicating that the Fed’s assistance has relieved some of the stress in the repo market.

Banks asked for $63.5 billion in overnight reserves, all of which was accepted by the N.Y. Fed. The Fed had said it would make up to $100 billion available.

The Fed provides the cash to banks through the market for repos, or repurchase agreements. In exchange for the cash, the banks provided $49.75 billion of Treasuries and $13.75 billion of mortgage-backed securities that they agreed to repurchase the following day.