The Federal Reserve Bank of New York’s Open Market Trading Desk is conducting a small value contingency securities lending operation for the purpose of testing its contingency operation infrastructure. The small value contingency operation will be conducted in addition to the regularly scheduled securities lending operation, and will occur on Thursday, August 10, 2017, beginning at 12:30 PM ET and ending at 12:45 PM ET. The exercise will have a maximum size of $115 million.
Results will be posted on the FRBNY’s website following the completion of the operation. The results will include the securities and total amounts accepted and submitted. The conduct of such exercises does not represent a change in the stance of monetary policy, and no inference should be drawn about the timing of any change in the stance of monetary policy in the future from them.