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The mission of the Applied Macroeconomics and Econometrics Center (AMEC) is to provide intellectual leadership in the central banking community in the fields of macro and applied econometrics.
The Center for Microeconomic Data offers wide-ranging data and analysis on the finances and economic expectations of U.S. households.
The monthly Empire State Manufacturing Survey tracks the sentiment of New York State manufacturing executives regarding business conditions.
This ongoing Liberty Street Economics series analyzes disparities in economic and policy outcomes by race, gender, age, region, income, and other factors.
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The Governance & Culture Reform hub is designed to foster discussion about corporate governance and the reform of culture and behavior in the financial services industry.
Need to file a report with the New York Fed? Here are all of the forms, instructions and other information related to regulatory and statistical reporting in one spot.
The New York Fed works to protect consumers as well as provides information and resources on how to avoid and report specific scams.
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The New York Fed provides a wide range of payment services for financial institutions and the U.S. government.
The New York Fed offers the Central Banking Seminar and several specialized courses for central bankers and financial supervisors.
The New York Fed has been working with tri-party repo market participants to make changes to improve the resiliency of the market to financial stress.
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We are connecting emerging solutions with funding in three areas—health, household financial stability, and climate—to improve life for underserved communities. Learn more by reading our strategy.
The Economic Inequality & Equitable Growth hub is a collection of research, analysis and convenings to help better understand economic inequality.
The Governance & Culture Reform hub is designed to foster discussion about corporate governance and the reform of culture and behavior in the financial services industry.
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Foreign Exchange Counterparties
Foreign exchange counterparties are trading counterparties of the New York Fed in its foreign exchange operations on behalf of the Federal Reserve and the U.S. Treasury. They are also expected to make reasonable markets for New York Fed Trading Desk (Desk) transactions that relate to currency needs of the New York Fed’s official accountholders and agencies of the U.S. government, as needed.
List of Foreign Exchange Counterparties
Current List, Additions, Removals & Name Changes
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Foreign Exchange Counterparties
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Australia and New Zealand Banking Group Limited Bank of America, N.A. Barclays Bank Plc Citibank, N.A. Commonwealth Bank of Australia, New York Credit Agricole Corporate and Investment Bank London Credit Suisse AG, London Branch Deutsche Bank AG London Branch Goldman Sachs & Co. LLC HSBC Bank USA, National Association JP Morgan Chase Bank, N.A. Morgan Stanley & Co. LLC MUFG Bank, Ltd. NatWest Markets Plc Royal Bank of Canada Standard Chartered Bank State Street Bank and Trust Company Sumitomo Mitsui Banking Corporation The Bank of New York Mellon The Northern Trust Company UBS AG |
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Additions and Removals
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| None to date. | |
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Name Changes
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| 2018 | |
April 30, 2018 |
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April 30, 2018 |
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| 2017 | |
May 19, 2017 |
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Expectations & Requirements
These expectations supplement those outlined in the Federal Reserve Bank of New York Policy on Counterparties for Market Operations.
Specific Expectations & Eligibility Requirements
Disclaimer
The Federal Reserve Bank of New York's relationships with private sector counterparties described in this policy are business, not regulatory, relationships entered into by the New York Fed for the purposes described herein. That a firm is a New York Fed counterparty is not an endorsement of the firm by the New York Fed and should not be used as a substitute for independent analysis and due diligence by other parties considering a business relationship with the firm.
The Federal Reserve Bank of New York's relationships with private sector counterparties described in this policy are business, not regulatory, relationships entered into by the New York Fed for the purposes described herein. That a firm is a New York Fed counterparty is not an endorsement of the firm by the New York Fed and should not be used as a substitute for independent analysis and due diligence by other parties considering a business relationship with the firm.
Role of foreign exchange counterparties in New York Fed market operations
Foreign exchange (FX) counterparties are trading counterparties of the New York Fed in its FX operations on behalf of the Federal Reserve and the U.S. Treasury. They are also expected to make reasonable markets for Desk transactions that relate to currency needs of the New York Fed’s official accountholders and agencies of the U.S. government, as needed. The Desk also relies on its FX counterparties for ongoing insight into global financial market developments in its daily market monitoring activities, to support the formulation and implementation of policy by the U.S. monetary authorities. FX counterparties are expected to provide competitive two-way pricing as needed to support the Desk’s periodic foreign exchange operations.
Eligibility criteria
In order to be eligible as a foreign exchange counterparty, a firm must:
- Demonstrate a substantial presence as a market maker that provides two-way liquidity in foreign exchange, in more than one market center/time zone.1
- Have, or have arrangements for another party to provide services of, a "back office" of sufficient size and experience to be able to (1) confirm and arrange settlement of transactions with the New York Fed and (2) manage trading at the volume levels expected by the New York Fed.
Once onboarded, FX counterparties are expected to continue to meet these expectations and eligibility requirements on an ongoing basis.
Firms should contact the New York Fed at fxcounterparty.info@ny.frb.org before formally expressing interest in becoming a foreign exchange counterparty and providing the requested information.
Expression of Interest Form for FX Counterparties
1 A market maker is a firm that continuously provides prices to both buyers and sellers in the market, and stands ready to transact at those prices in various market environments.
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