Foreign Reserves Management Counterparties
ABN AMRO Bank N.V.
Bank of America Corp.
BNP Paribas S.A.
Daiwa Securities Group, Inc.
Danske Bank A/S
Deutsche Bank AG
Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
Mitsubishi UFJ Group, Inc.
Mizuho Financial Group, Inc.
NatWest Group Plc
Nomura Holdings, Inc.
Société Générale S.A.
Trades may occur with domestic or foreign branches, subsidiaries, or other affiliates of these entities.
Additions and Removals
Feb 7, 2019
Mar 29, 2018
Jul 31, 2023
The following have changed their names, effective July 31.
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.
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.
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.