Foreign Reserves Management Counterparties
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ABN AMRO Bank N.V. Barclays Bank Plc Barclays Securities Japan Limited BNP Paribas, Paris Citigroup Global Markets Inc. Citigroup Global Markets Japan Inc. Citigroup Global Markets Ltd. Daiwa Securities Co., Ltd. Danske Bank A/S Deutsche Bank AG Frankfurt Deutsche Bank AG London Branch Goldman Sachs International Goldman Sachs Japan Co., Ltd. JP Morgan Securities Japan Co., Ltd. J.P. Morgan Securities Plc Merrill Lynch International Merrill Lynch Japan Securities Co., Ltd. Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. Mizuho Securities Co., Ltd. Morgan Stanley and Co. International Plc NatWest Markets Plc Nomura International Plc Nomura Securities Co., Ltd. Société Générale, Paris |
Additions and Removals
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2019 | |
Feb 7, 2019 |
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2018 | |
Mar 29, 2018 |
Name Changes
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2018 | |
Apr 30, 2018 |
Role of foreign reserves management counterparties in New York Fed market operations
The Desk transacts with foreign reserves management (FRM) counterparties to invest the foreign currency reserves of the Federal Reserve and the U.S. Treasury. The Desk also relies on its FRM 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.
FRM counterparties are expected to participate consistently and competitively in the Desk’s periodic reinvestment operations.
Eligibility criteria
In order to be eligible as a foreign reserves management counterparty, a firm must:
Once onboarded, FRM counterparties are expected to continue to meet these expectations and eligibility requirements on an ongoing basis.
Firms should contact the New York Fed at FRMInfo@ny.frb.org before formally expressing interest in becoming a foreign reserves management counterparty and providing the requested information.
Expression of Interest Form for FRM 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.
Announcements
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