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发表于 2009-10-19 09:56 AM
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By Michael McKee
Oct. 19 (Bloomberg) -- The Federal Reserve Bank of New York
said it is working with market participants to assess the use of
reverse repurchase agreements to drain the record amount of cash
it has added to the financial system.
“Over the past year, the Federal Reserve Bank of New York
has been working internally and with market participants on
operational aspects of reverse repos to ensure that this tool
will be ready when and if the Federal Open Market Committee
decides they should be used,” the New York Fed said in a
statement today.
The central bank is considering expanding the
counterparties it deals with beyond the so-called primary
dealers that buy and sell securities with the bank.
“This work is a matter of prudent advance planning by the
Federal Reserve, and no inference should be drawn about the
timing of monetary policy tightening,” the statement added. No
such operations have been conducted so far, the bank said.
The focus of the tests is to expand the Fed’s ability to
conduct reverse repos with primary dealers to include so-called
triparty settlement, the bank said.
In a reverse repo, the Fed sells securities for a set
period, temporarily decreasing the amount of money available in
the banking system.
“We have recently begun testing this capability with all
involved parties and systems, and it is likely that the Federal
Reserve will engage in additional tests in the future,” the
statement said. |
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狗仔卡
发表于 2009-10-19 09:50 AM
