Fed discontinuing three month repo operations

The Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York has released the schedule of large-scale overnight and term repurchase agreement (repo) operations for the monthly period from May 14, 2020 through June 11, 2020.

The Desk will discontinue three-month repo operations during this monthly period in light of more stable repo market conditions. The Desk will continue to conduct an overnight repo operation once per day and one-month repo operations once per week. One-month operations conducted during this monthly period will mature on Tuesdays in order to shift future term offerings to this day of the week.

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