Statement Regarding Treasury Securities Small Value Exercise

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Operating Policy

Statement Regarding Treasury Securities Small Value Exercise

October 30, 2026

The New York Fed undertakes certain small value open market transactions for the purpose of testing operational readiness to implement existing and potential policy directives from the Federal Open Market Committee (FOMC). The FOMC authorizes and directs the New York Fed's Open Market Trading Desk (the Desk) to conduct these exercises to test its operational readiness in the FOMC Authorizations and Continuing Directives for Open Market Operations.

In connection with these directives, the Desk intends to conduct a small value Treasury sale operation on Tuesday, November 3, 2026, beginning around 9:00AM ET and ending at 9:20AM ET. The sale will not exceed a face value of $50 million and will be limited to Treasury nominal coupon securities maturing between 1.5 and 3 years from the date of the operation.

Results will be posted on the New York Fed's website following the completion of the operation. The results will include the securities and total amounts accepted and submitted.

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