Revised SOMA Securities Lending Program Terms and Conditions

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Press Release

Revised SOMA Securities Lending Program Terms and Conditions

April 24, 2002

Effective May 15th, the Desk is implementing the following changes to the SOMA securities lending program (previously revised 10/18/01):

SOMA lending limit: the percentage of each Treasury issue owned by SOMA with a maturity of two weeks or longer that is available for lending each day is increased to 65 percent (from 45 percent);
Per dealer limit: the total par amount in outstanding loans per dealer is increased to $1 billion (from $500 million); and
Per issue limit: the per issue per dealer limit is increased to $200 million (from $100 million).

All other program terms remain unchanged, including the minimum fee rate, which is currently set at 1.00 percent.

For more information on the standard SOMA securities lending program terms, please see

August 26, 1999 - Announcement of Change in Lending Limits for SOMA Securities Lending Program,
September 7, 1999 - Revised SOMA Securities Lending Program - FAQs,
October 18, 2001 - Revised SOMA Securities Lending Program Terms and Conditions.

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