The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.
Statement Regarding System Open Market Account Activity
July 3, 2008
Given the current level of the Federal Reserve's System Open Market Account ("SOMA) Treasury bill holdings, the Open Market Trading Desk plans to invest the proceeds from maturing bills into new 4-week bill offerings until further notice. This practice will not change the total amount of Treasury bills owned by SOMA.
Accordingly, on Thursday, July 10, 2008, SOMA will invest the full amount of maturing Treasury bill holdings ($493,784,000) into the 8/7/2008 4-week Treasury bill (912795F89).