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NY Fed To Start Reverse Repos
The Federal Reserve Bank of New York will commence a new round of small reserve repo operations to include its newly expanded list of primary dealers and money funds.
TheFederal Reserve Bank of New Yorkwill commence a new round of small reserve repo operations to include its newly expanded list of primary dealers and money funds,The Wall Street Journalreports. The transactions, part of a series of open-market operations first announced in December 2009, do not represent any change in the Fed’s monetary policy.
Reverse repos will enable the Fed to use the $2.4 trillion in securities it has acquired over recent years. The Fed can lend out some of the $1.3 trillion in Treasurys, $143 billion in federal agency securities and $948 billion in mortgages, it currently owns.
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