Statement Regarding Repurchase Operations - FEDERAL RESERVE BANK of NEW YORK

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Operating Policy

Statement Regarding Repurchase Operations

October 4, 2019

In accordance with the most recent Federal Open Market Committee (FOMC) directive, the Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York will conduct a series of overnight and term repurchase agreement (repo) operations to help maintain the federal funds rate within the target range.

Effective the week of October 7, the Desk will offer term repos through the end of October as indicated in the schedule below. The Desk will continue to offer daily overnight repos for an aggregate amount of at least $75 billion each through Monday, November 4, 2019.

Securities eligible as collateral include Treasury, agency debt, and agency mortgage-backed securities. Awarded amounts may be less than the amount offered, depending on the total quantity of eligible propositions submitted. Additional details about the operations will be released each afternoon for the following day’s operation(s) on the Repurchase Agreement Operational Details webpage. The operation schedule and parameters are subject to change if market conditions warrant or should the FOMC alter its guidance to the Desk.

Schedule of Overnight and Term Repurchase Agreement Operations

Overnight Operation Dates	Aggregate Operation Limit
Mon, 10/7/2019 - Mon, 11/4/2019	At least $75 billion

Term Operation Date	Maturity Date	Term	Aggregate Operation Limit
Tue, 10/8/2019	Tue, 10/22/2019	14-days	At least $45 billion
Thu, 10/10/2019	Thu, 10/24/2019	14-days	At least $45 billion
Fri, 10/11/2019	Thu, 10/17/2019	6-days	At least $45 billion
Tue, 10/15/2019	Tue, 10/29/2019	14-days	At least $35 billion
Thu, 10/17/2019	Fri, 11/1/2019	15-days	At least $35 billion
Tue, 10/22/2019	Tue, 11/5/2019	14-days	At least $35 billion
Thu, 10/24/2019	Thu, 11/7/2019	14-days	At least $35 billion
Tue, 10/29/2019	Tue, 11/12/2019	14-days	At least $35 billion

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