Brendan McDermid/Reuters The Federal Reserve Bank of New York has been offering market repurchase agreements for more than a week now, with several more operations scheduled for throughout the fall.

Repos are one of the several policy tools the central bank uses to calm money markets and maintain steady interest rates.

Here's everything you need to know about repo operations, including the amounts scheduled for release and the purpose they serve the US economy.

Visit the Markets Insider homepage for more stories. The New York Federal Reserve is well into its second week of offering market repurchase agreements. Known as repos, the operations are designed to soothe money markets and bring interest rates within the central bank's intended range. Repos are one of several policy tools used by the central bank to regulate the economy and keep expansion sustainable. The Fed hadn't offered them for more than a decade before the September sales, and their reintroduction signals the bank is ready to intervene more frequently to steady the borrowing landscape. The Fed has scheduled repo operations for every business day until October 10, with the option to pursue additional sales down the road. Here's everything you need to know about repos, including the amounts scheduled for daily offerings and what purpose they serve the US economy. Markets Insider is looking for a panel of millennial investors. If you're active in the markets, CLICK HERE to sign up.

What are repos? REUTERS/Kevin Lamarque Market repurchase agreements are a type of short-term loan, often used by the Fed to regulate the nation's money supply. They resemble government bonds, as they're secure, feature steady interest rates, and have set maturation dates, or "terms." When enacting a repo operation, the US central bank buys government securities from banks with predetermined repurchase dates. The offerings create temporary liquidity for the financial system, adding more funds to the plumbing that connects banks, accounts, and transactions. The interest rates associated with repos are relatively low, and most repos are repurchased the day after they're sold. However, several multibillion-dollar repo offerings can add up to a sizeable injection of capital into the US economy.

Why purpose do repos serve? AP Photo/Mark Lennihan Repos allow the Federal Reserve to slowly add cash into the economy while watching how markets react. Scheduled repo offerings grant time for policy adjustment, as do the short-term nature of the agreements. Instead of maturing over a span of months or years, these overnight agreements aren't traded and don't see their value fluctuate. Repo operations were most recently used by the central bank to push interest rates back into their intended range. Short-term rates jumped as high as 10% in the middle of September and threatened to destabilize the bond market. By propping up the money market, the Fed can stabilize interest rates and slowly bring them within the window they feel is best suited for sustainable economic expansion. September's repo operations were the first from the Fed since the 2008 financial crisis, and marked another government action meant to relieve pressure on nation's economy. The central bank also cut its benchmark interest rate by 25 basis points in September to boost spending.