Change in Minimum Fee Rate for SOMA Securities Lending Program

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Press Release

Change in Minimum Fee Rate for SOMA Securities Lending Program

August 21, 2007

Effective immediately, the Federal Reserve Bank of New York’s Open Market Trading Desk is making the following temporary change to the System Open Market Account ("SOMA") securities lending program:

The minimum fee rate is decreased to 0.50 percent from 1.00 percent. All other program terms remain unchanged.

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