To All Depository Institutions and Others Concerned
in the Second Federal Reserve District:
The Federal Reserve Board has announced an extension of the comment period on a consultation paper that is intended to help the Board obtain broader information on intraday liquidity management issues and to lay the groundwork for discussions about the long-term evolution of its Payment System Risk (PSR) Policy. The comment period will be extended for ninety days to March 15, 2007.
The consultation paper seeks information from the financial industry and other interested parties on their experience in managing intraday liquidity, credit and operational risks associated with Fedwire funds transfers and associated transactions, especially late-day transfers.
See the press release for full details.