Treasury Operations Counterparty Pilot Program
The Federal Reserve Bank of New York is conducting a pilot program for a few small firms to participate in New York Fed operations to conduct secondary market outright purchases or sales of U.S. Treasury securities, along with primary dealers. The New York Fed’s intent in conducting this pilot program is to explore ways to broaden access to open market operations, and to determine the extent to which firms beyond the Primary Dealer community can augment the New York Fed’s operational capacity and resiliency in its monetary policy operations.
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