Statement

Change to SOMA Securities Lending Program

July 7, 2009

Effective July 9, 2009, 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 noon operation on July 9, 2009, direct obligations of housing-related government-sponsored enterprises (GSEs) Fannie Mae, Freddie Mac, and the Federal Home Loan Banks held in the SOMA portfolio will be offered for loan in the daily SOMA securities lending auctions. All other terms and conditions remain unchanged.