The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach & Education function engages, empowers and educates the public in the Second District. Our outreach mission furthers the Bank’s commitment to the region by listening to the communities we serve and developing programs, analysis and sponsored conferences and clinics to help meet their needs. Our education mission aims to advance public knowledge about the Federal Reserve System and its role in the economy.
The Federal Reserve Bank of New York is conducting a pilot program for a few firms that do not meet the capital minimum requirement for primary dealers to act as counterparties in agency mortgage-backed securities (MBS) operations it conducts for the System Open Market Account (SOMA) portfolio. The New York Fed’s intent in conducting this pilot program is to explore ways to broaden access to open market operations, and to determine the extent to which firms beyond the Primary Dealer community can augment the New York Fed’s operational capacity and resiliency in its monetary policy operations.