Press Release

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

March 01, 2021

NEW YORK—The Federal Reserve Bank of New York today announced the selection of additional counterparties to support agency commercial mortgage backed securities (agency CMBS) purchases. By widening the eligibility criteria for counterparties, the New York Fed is furthering its commitment to support diversity, inclusion, and opportunity as we increase the program’s operational capacity and reach. The firms that have been 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 counterparties are:

  • Great Pacific Securities
  • Robert W. Baird & Co. Incorporated

Expression of Interest (EOI) materials for counterparty roles for agency CMBS 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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