In connection with this authorization, the FRBNY’s Open Market Trading Desk intends to conduct a series of four small value repo and reverse repo operations during the month of November. Each operation will begin around 9:40 AM ET, and end at 10:00 AM ET and be open to Primary Dealers and/or Reverse Repo Counterparties. All counterparties will be limited to one $1 million proposition per tranche during each operation. The planned schedule, including operation details, follows below:
Repurchase Agreement Operations:
| OPERATION TENOR/TYPE | ELIGIBLE COUNTERPARTIES | OPERATION DATE | SETTLEMENT DATE | MATURITY DATE | COLLATERAL TYPE | MAXIMUM VALUE OF OPERATION |
| Term Repo | Primary Dealers | Wed, Nov 8, 2017 | Wed, Nov 8, 2017 | Fri, Nov 10, 2017 | Multi-tranche: Treasury, Agency, Agency MBS | $75 million |
| Overnight Repo | Primary Dealers | Mon, Nov 20, 2017 | Mon, Nov 20, 2017 | Tue, Nov 21, 2017 | Multi-tranche: Treasury, Agency, Agency MBS | $75 million |
Reverse Repurchase Agreement Operations:
| OPERATION TENOR/TYPE | ELIGIBLE COUNTERPARTIES | OPERATION DATE | SETTLEMENT DATE | MATURITY DATE | COLLATERAL TYPE | MAXIMUM OFFERING RATE | MAXIMUM VALUE OF OPERATION |
| Term Reverse Repo | Primary Dealers and Reverse Repo Counterparties | Mon, Nov 13, 2017 | Mon, Nov 13, 2017 | Wed, Nov 15, 2017 | Single-tranche: Treasury-only | ON RRP Offering Rate on Nov 13 | $175 million |
| Overnight Reverse Repo | Primary Dealers | Thu, Nov 16, 2017 | Thu, Nov 16, 2017 | Fri, Nov 17, 2017 | Single-tranche: Agency MBS-only | ON RRP Offering Rate on Nov 16 | $25 million |
Announcements and results will be posted on the FRBNY's website at the start and following the completion of each operation.
