Changes to Dealer Limits for SOMA Securities Lending Program

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Statement

Changes to Dealer Limits for SOMA Securities Lending Program

June 8, 2011

The Federal Reserve Bank of New York's Open Market Trading Desk is making the following change to the System Open Market Account (SOMA) securities lending program:

Commencing with the operation on June 9th, 2011, the Desk will remove the $750 million issue-specific limit from the program. All other program terms and conditions will be maintained, including the 25 percent issue-specific and $5 billion aggregate limits.