TO: Primary Dealers
FROM: Sandy Krieger
DATE: November 4, 1999
SUBJECT: Announcement Regarding November 10 Sale of Options on Repurchase Transactions and Future Auction Dates
In light of demand evident in the auctions of options on repurchase agreements, the FRBNY will auction, on November 10, $30 billion of the December 23 Strip, $50 billion of the December 30 Strip and $40 billion of the January 6 Strip. Also, we will hold at least two additional auctions beyond the five originally announced. The amounts for each auction will continue to be determined shortly after its preceding auction and will be announced at the weekly press briefing held at the FRBNY on Thursday afternoons at 4 p.m. (The press conference is on Friday when Thursday is a Bank holiday.) We will continue to send you the announcements regarding auction amounts by e-mail at approximately the same time as the press briefings occur, as we have been doing.
The days, dates and times of the next four auctions are as follows:
Wednesday, November 10, 2:30 p.m.;
Wednesday, November 17, 2:30 p.m.;
Tuesday, November 23, 2:30 p.m.;
Wednesday, December 1, 2:30 p.m.