NEW YORK (MNI) – The following is the text of a statement Thursday
by the Federal Reserve Bank of New York:
Effective December 1, 2011, the New York Fed has accepted the
following banks as reverse repurchase transaction counterparties. This
is in addition to the primary dealers and previously approved reverse
repurchase transaction counterparties.
Banks
The Bank of New York Mellon
Barclays Bank PLC – New York Branch
Citibank, N.A.
Credit Agricole Corporate and Investment Bank
HSBC Bank USA, National Association
Mizuho Corporate Bank, Ltd.
Morgan Stanley Bank, N.A.
Wells Fargo Bank, NA
Inclusion on this list simply means that, should the New York Fed
conduct reverse repurchase agreements, those listed would be eligible to
participate. It does not mean that any listed eligible reverse
repurchase transaction (RRP) counterparty is eligible for any other
program or transactional relationship with the New York Fed. Further,
it does not in any way constitute a public endorsement of any listed
eligible RRP counterparty by the New York Fed, nor should inclusion on
the list be viewed as a replacement for prudent counterparty risk
management and due diligence. Each listed bank applied to be an
eligible RRP counterparty under the criteria and application published
by the New York Fed on July 28 and August 22, 2011.
** Market News International New York Newsroom: 212-669-6430 **
[TOPICS: M$U$$$,MMUFE$,MGU$$$,MFU$$$,MN$RP$]