Operating Policy
Statement Regarding Use of FedTrade Plus for Securities Lending Operations
April 17, 2026

Beginning April 22, 2026, the Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York will conduct its Securities Lending operations using the new FedTrade Plus auction platform.

This system transition follows extensive testing by the Desk and with counterparties, including small value exercises conducted earlier in April 2026. This announcement does not affect any operational parameters for Securities Lending operations. It also does not affect any other open market operations.

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