Operating Policy
Statement Regarding Repurchase Operations
March 16, 2020

In accordance with the most recent FOMC directive, the Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York will conduct an additional overnight repurchase agreement (repo) operation for same-day settlement today from 1:30 PM ET to 1:45 PM ET. This repo operation will be conducted for up to an aggregate offered amount of $500 billion with a minimum bid rate of 0.10 percent. All previously planned repo operations will be conducted as scheduled.

This action is taken to ensure that the supply of reserves remains ample and to support the smooth functioning of short-term U.S. dollar funding markets. Detailed information on the schedule and parameters of repo operations are provided on the Repurchase Agreement Operational Details page.