Operating Policy
Statement Regarding Repurchase Operations
March 17, 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 additional overnight repurchase agreement (repo) operations for same-day settlement each afternoon for the remainder of this week from 1:30 PM ET to 1:45 PM ET. These repo operations will be conducted for an aggregate offered amount of $500 billion. Additionally, the aggregate offered amount for the overnight repo operations conducted each morning for the remainder of this week will increase to $500 billion. All other 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.