Statement Regarding Agency Mortgage-Backed Securities Small Value Exercise

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Operating Policy

Statement Regarding Agency Mortgage-Backed Securities Small Value Exercise

June 15, 2026

The Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York undertakes small value transactions for the purpose of testing operational readiness to implement existing and potential policy directives from the Federal Open Market Committee (FOMC) including testing trade execution platforms. The FOMC authorizes and directs the Desk to conduct these exercises in the Authorizations and Continuing Directives for Open Market Operations. Consistent with the Statement Regarding New FedTrade Platform, the Desk intends to conduct a small value agency MBS purchase operation on June 16 using the new trading platform, FedTrade Plus.

Concurrent with this announcement, the Desk has published an agency MBS operation schedule, detailing the date, time, operation type, securities, and maximum purchase amount for the operation.

Announcements and results will be posted on the New York Fed’s website at the start and following the completion of the operation, respectively.

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