Mortgage Operations Counterparty Pilot Program
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.
Announcements
Process for Expressions of Interest

If your firm would like to express an interest in participating in this pilot program, please submit the following materials to pilotinfo@ny.frb.org:

Tools
Related New York Fed Content