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

Per dealer limit: Primary dealers will be limited to 25 percent of the amount available for borrowing with a maximum of $750 million per issue, versus the prior limit of 20 percent with a maximum of $500 million per issue.

Portfolio limit: The supply available for borrowing each day has been increased from 65 percent of an individual issue to 90 percent of an individual issue.

Securities available for lending: All securities with maturities of greater than six days will be available for borrowing versus the previous limit of securities maturing in greater than 13 days.

Contact:
Andrew Williams
(212) 720-6143
(646) 720-6143
andrew.williams@ny.frb.org