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 U.S. Dollar Liquidity Swap Small Value Exercise
December 12, 2013
The Federal Reserve Bank of New York’s Open Market Trading Desk (the Desk) will conduct small value U.S. dollar liquidity swap operations with some foreign central banks that have liquidity swap arrangements with the Federal Reserve Bank of New York. The purpose of these pre-arranged small value operations is to test the operational readiness of the swap arrangements. Such testing has been authorized by the Federal Open Market Committee (FOMC), as noted in the FOMC’s Authorization for Foreign Currency Operations.
The first of these exercises will occur on December 12, 2013. The Desk intends to conduct similar periodic exercises in the future.
As an operational readiness exercise, these operations are a matter of prudent advance planning by the Federal Reserve.