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.
For the new reserve maintenance period beginning today, early estimates suggest that the Desk will need to provide reserves through RP operations on most days. Each day at its normal operating time of 9:30 a.m. and on Thursdays at 8:20 a.m., the Desk will re-evaluate whether it needs to arrange operations.
In addition, the Desk stands ready to arrange further operations as needed to facilitate trading at rates around the operating objective of 5-1/4 percent in reserve markets.