Statement Regarding Open Market Desk Operations on Thursday, April 1, 2021

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Operating Policy

Statement Regarding Open Market Desk Operations on Thursday, April 1, 2021

March 3, 2021

Due to the release of the March Employment Situation report on Good Friday, the Securities Industry and Financial Markets Association is not recommending a full closure for secondary market trading of U.S. government securities on April 2, 2021. Nonetheless, fixed income and repo market participants broadly expect to treat April 2, 2021 as a holiday. As a result, all overnight repurchase and reverse repurchase agreements and securities lending trades executed on Thursday, April 1, 2021 will mature on Monday, April 5, 2021. Additionally, any Treasury security purchases executed on Thursday, April 1, 2021 will settle on Monday, April 5, 2021. While the Open Market Trading Desk does not intend to conduct operations on April 2, 2021, the Fedwire Securities Service will operate during its regular hours on April 2, 2021.

For information on the publication of the Tri-Party General Collateral Rate (TGCR), the Broad General Collateral Rate (BGCR), the Secured Overnight Financing Rate (SOFR), or the SOFR Averages and Index on April 2, 2021, see here.

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