N.Y. Fed expands a list of counterparties for reverse repos

08/19/2010 | Wall Street Journal, The

The Federal Reserve Bank of New York has moved toward unwinding the central bank's quantitative-easing program by adding to a list of counterparties that will conduct transactions of reverse-repurchase agreements. The step ensures that the Fed will have the capacity it needs to conduct reverse repos. "This expansion is intended to enhance the capacity of such operations to drain reserves beyond what could likely be conducted through the New York Fed's traditional counterparties," according to the New York Fed.

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