Press Release

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

February 04, 2021

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 for these market operations and 13(3) facility, the New York Fed is furthering its commitment to support diversity, inclusion, and opportunity as we increase these programs’ operational capacity and reach. The firms selected over the course of this counterparty expansion include a diverse range of market participants by firm size, business model, and ownership, including Minority, Women, and Veteran Business Enterprises (MWVBEs).

The additional agency CMBS approved counterparty is:

  • Raymond James & Associates, Inc.

The additional dealer for CPFF is:

  • Bancroft Capital, LLC

Expression of Interest (EOI) materials for counterparty roles for agency CMBS and the Commercial Paper Funding Facility (CPFF) 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 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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