Press Release

Announcement of Change in Minimum Fee Rate for SOMA Securities Lending Program

June 30, 2004

Effective July 1, 2004, the Federal Reserve Bank of New York (FRBNY) is implementing the following change to the System Open Market Account (SOMA) securities lending program:

The minimum fee rate has been increased to 1.00 percent from 0.75 percent.

All other program terms remain unchanged.

For more information, please see:
SOMA Securities Lending Program Terms & Conditions ››