On May 28, Fed (NY) reported it will hold daily operations for repos.
Fed (NY) reported that the Open Market Trading Desk (the Desk) will adjust Standing Repo Facility (SRF) to conduct a daily morning overnight operation from Jun. 26, 2025.
The morning SRF operations aim to enhance the SRF effectiveness in order to support the effective implementation of monetary policy and smooth market functioning.
Daily SRF Operations
Daily SRF operations will be conducted from 8:15 to 8:30am EST, will facilitate earlier settlement of awarded positions on Bank of New York (BNY) tri-party repo platform.
Daily afternoon SRF operations will continue to take place from 1:30 to 1:45pm EST.
Morning SRF operations will allow for execution and settlement of SRF trades earlier each day to better align with the timing of funding needs of some SRF counterparties.
Current aggregate SRF $500bn operation limit will apply to combined daily operations,
Afternoon will have $500bn operations limit less accepted amount from the morning.
Desk will position funds on the BNY tri-party repo platform within thirty minutes of the operation close time on a best-efforts basis, settlement will vary by securities delivery.
