Effective August 25, 2008, the Federal Reserve Bank of New York’s Open Market Trading Desk is making the following minor technical adjustment to the System Open Market Account's (SOMA) daily securities lending program:
All securities with remaining maturity greater than 13 days will be eligible for overnight securities loans. This replaces the previous eligibility limit of 6 days or more in remaining maturity. All other program terms and conditions remain unchanged.
Contact: Andrew Williams