Statement Regarding Reverse Repurchase Agreement Small Value Exercise - FEDERAL RESERVE BANK of NEW YORK

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Operating Policy

Statement Regarding Reverse Repurchase Agreement Small Value Exercise

October 9, 2024

The Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York undertakes small value open market transactions for the purpose of testing operational readiness to implement existing and potential policy directives from the Federal Open Market Committee (FOMC). The FOMC authorizes the Desk to conduct these exercises in the Authorizations and Continuing Directives for Open Market Operations.

In connection with these authorizations, the Desk intends to conduct a small value overnight reverse repo operation using Agency MBS collateral with Primary Dealers and RRP counterparties. The bid submission process will be conducted from 10:30 AM ET to 11:00 AM ET on Wednesday, October 16, 2024. All counterparties will be limited to one 1ドル million proposition in the Agency MBS tranche during the operation. Results will be posted on the New York Fed’s website following the completion of the operation. The operation details are as follows:

Reverse Repurchase Agreement Operation:

OPERATION TENOR/TYPE ELIGIBLE COUNTERPARTIES OPERATION DATE SETTLEMENT DATE MATURITY DATE SECURITY TYPE OFFERING RATE MAXIMUM VALUE OF OPERATION

Overnight Reverse Repo Primary Dealers and RRP counterparties, which include 2a-7 money market funds, banks, and government-sponsored enterprises Wed, Oct 16, 2024 Wed, Oct 16, 2024 Thu, Oct 17, 2024 Agency MBS At or Below
Oct 16 Offering Rate 200ドル million

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