Click Cover to Read Digital Edition

AVAILABLE IN THE APP STORE
iPAD APP
iPHONE APP

UPCOMING EVENTS

 
EMERGE: The Forum on Consumer Financial Services Innovation
June 2-4
Hyatt Regency Century Plaza
Los Angeles
 
Digital Banking Summit
June 2-4
Hyatt Regency Century Plaza
Los Angeles
 
2014 RDC Summit
Sept. 30 - Oct. 2
Las Vegas
 
ATM, Debit & Prepaid Forum
October 19-22
JW Marriott Desert Ridge
Phoenix
 
Money2020
November 2-6
Aria
Las Vegas
More events >  

Share |

Print Friendly and PDF

NY Fed Releases Announces Changes to Open Market Operations Due to Hurricane Sandy

 

Oct 29 - The Federal Reserve Bank of New York is open today. Due to financial market closures and the market conditions anticipated to accompany Hurricane Sandy, several changes have been made to System Open Market Account operations previously scheduled to take place today and tomorrow.

The sale of Treasury securities that was tentatively scheduled for Oct. 29, will take place as scheduled, with a 10:15 a.m. open and 11:00 a.m. close. However, settlement will take place on Oct. 31, not Oct. 30. The purchase of Treasury securities previously scheduled for Oct. 30, has been postponed, and the schedule of Treasury security operations will be updated in the coming days with details of the rescheduled operation. After the oct. 29 sale, Treasury purchase and sale operations are anticipated to resume on Oct. 31.

Similarly, there will be no agency mortgage-backed securities trading on Oct. 30. MBS trading operations are anticipated to resume on Oct. 31.

Due to SIFMA's recommended early market close for fixed-income markets today, today's securities lending operation will conclude at 11:45 a.m., instead of the typical 12:00 p.m. Overnight loans made today will mature on Oct. 31, consistent with the market conventions being adopted. In light of this settlement convention, a securities lending operation will not be held Oct. 30.

We are continuing to evaluate market conditions and will make announcements regarding other Federal Reserve operations as needed.


Back