Press Release

New York Fed Selects Additional Firms To Broaden its Counterparty Base for Agency CMBS and CPFF

October 19, 2020

NEW YORK—The Federal Reserve Bank of New York today announced the selection of  additional  counterparties  to support, as applicable,  agency commercial mortgage backed securities (agency CMBS) purchases and the Commercial Paper Funding Facility (CPFF). By widening the eligibility criteria for counterparties and agents for these market operations and 13(3) facilities, the New York Fed is furthering its commitment to support diversity, inclusion, and opportunity as we increase these programs’ operational capacity and reach. The selected firms represent a diverse range of market participants, including Minority, Women, and Veteran Business Enterprises (MWVBEs).

The additional agency CMBS approved counterparties are:

  • Academy Securities, Inc.
  • Loop Capital Markets LLC
  • Mischler Financial Group, Inc.
  • Samuel A. Ramirez & Co., Inc.

The additional commercial paper dealers for the CPFF are:

  • Academy Securities, Inc.
  • CastleOak Securities, L.P.

The New York Fed has an open and continuing application process for these roles and intends to name additional firms as counterparties and agents for agency CMBS, CPFF, the Secondary Market Corporate Credit Facility (SMCCF), and the Term Asset-Backed Securities Loan Facility (TALF) in the weeks ahead. Expression of Interest (EOI) materials can be found on the New York Fed’s website. Any questions about this process can be directed to facility.counterparty@ny.frb.org

Applications are limited to firms meeting designated eligibility requirements, including size restrictions, transaction capabilities, financial condition, compliance controls, and equal opportunity and diversity efforts. Selected participants will only be able to act as counterparty or agent for the specific program for which they have been chosen, and not for any other 13(3) facilities or for other market operations of the New York Fed.

Contact
Andrea Priest
(212) 720-6139
Andrea.Priest@ny.frb.org

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