TO: Primary Dealers
FROM: Sandy Krieger
DATE: October 28, 1999
SUBJECT: Auction Amounts for November 3 Sale of Options on Repurchase Transactions
In light of the demand evident in the auctions of options on repurchase agreements, the FRBNY will increase the amounts of options available for purchase at the November 3 auctions. On November 3, the FRBNY will offer for sale $20 billion of the December 23 Strip, $50 billion of the December 30 Strip, and $25 billion of the January 6 Strip. As previously indicated, the FRBNY may raise or lower the amounts to be auctioned for each Strip, depending on its sense of demand.