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Media Advisory

New York Fed to Launch Regular Publication of Reserve Demand Measure

October 11, 2024

NEW YORK—On Thursday, October 17 at 10:00 am EDT, the Federal Reserve Bank of New York will launch monthly publication of a new research product that measures how much the federal funds rate responds to shifts in reserve supply.

This new tool will provide a real-time assessment of the ampleness of reserves in the U.S. banking system to support Federal Reserve balance sheet management and successful monetary policy implementation.

Following the initial launch, the reserve demand estimates will be updated around 10:00 A.M. Eastern Time on the third Thursday of every month.

The measure was first introduced through a Liberty Street Economics blog post in October 2022 and updated in a more recent blog post in August 2024.

In conjunction with the new product, the New York Fed will publish a Liberty Street Economics blog post providing an overview of the new product and discussing the latest estimates of reserve demand.

Press Call on the new research product:

A deep background press call will take place with the associated research economists on Thursday, October 17 at 9:00 am EDT to provide further context on this new product. Journalists interested in participating should RSVP with Shelley Pitterson at Shelley.Pitterson@ny.frb.org.

Contact
Shelley Pitterson
(917) 698-0510
Shelley.Pitterson@ny.frb.org

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