Operating Policy
Statement Regarding Repurchase Operations
May 13, 2020

The Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York has released the schedule of large-scale overnight and term repurchase agreement (repo) operations for the monthly period from May 14, 2020 through June 11, 2020.

The Desk will discontinue three-month repo operations during this monthly period in light of more stable repo market conditions. The Desk will continue to conduct an overnight repo operation once per day and one-month repo operations once per week.  One-month operations conducted during this monthly period will mature on Tuesdays in order to shift future term offerings to this day of the week.

The Desk will continue to adjust repo operations as appropriate to support effective policy implementation and the smooth functioning of short-term U.S. dollar funding markets, consistent with the FOMC directive to the Desk.

Detailed information on the schedule and parameters of term and overnight repo operations are provided on the Repurchase Agreement Operational Details page.