In accordance with the Federal Open Market Committee’s (FOMC’s) authorization and continuing directive, the Open Market Trading Desk at the Federal Reserve Bank of New York will conduct an additional overnight Standing Repo Facility (SRF) operation on each business day beginning December 30, 2024, through January 3, 2025, from 8:15 to 8:30 a.m. (ET).
These additional morning operations are intended to be technical exercises for the purpose of increasing the Federal Reserve’s understanding of how SRF operation times can support effective policy implementation and market functioning during periods of expected money market pressures.
The regularly scheduled SRF operations from 1:30 to 1:45 p.m. (ET) will continue to take place on each business day from December 30, 2024, through January 3, 2025. The aggregate operation limit of $500 billion will apply to the combined daily operations. Settlement of both SRF operations will occur in the triparty account following the afternoon operation each day.