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 and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.
Statement Regarding System Open Market Account Activity
December 31, 2007
This morning the Federal Reserve Open Market Trading Desk plans to conduct a four-day RP followed immediately by an two-day RP. The large operations this morning are intended to offset the drain to reserves arising from an elevated balance in the Treasury's account at the Fed.