-
Statement Regarding Reverse Repurchase Agreement Small Value Exercise
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 Authorization for Domestic Open Market Operations and Authorization for Foreign Currency Operations. In connection with these authorizations, the Desk intends to conduct a small value overnight reverse repo operation with Primary Dealers and Reverse Repo Counterparties to test its ... (full story)