Anonymous ID: fa1168 March 31, 2020, 4:55 p.m. No.8641301   🗄️.is đź”—kun

Federal Reserve Bank of New York Reverse Repo: March 31st 2020

 

$284.908B with 53 counter-parties.

 

When the Federal Reserve conducts an overnight Reverse Repo Agreement, it sells a security to an eligible counter-party (the primary dealers plus whoever else shows up now-see below) and simultaneously agrees to buy the security back the next day

 

moar on overall RRP's

Reverse Repo

 

A reverse repurchase agreement (RRP) is an act of buying securities with the intention of returning—reselling—those same assets back in the future at a profit. This process is the opposite side of the coin to the repurchase agreement. To the party selling the security with the agreement to buy it back, it is a repurchase agreement. To the party buying the security and agreeing to sell it back, it is a reverse repurchase agreement. The reverse repo is the final step in the repurchase agreement closing the contract.

 

In a repurchase agreement, a dealer sells securities to a counterparty with the agreement to buy them back at a higher price at a later date. The dealer is raising short-term funds at a favorable interest rate with little risk of loss. The transaction is completed with a reverse repo. That is, the counterparty has sold them back to the dealer as agreed.

 

The counterparty earns interest on the transaction in the form of the higher price of selling the securities back to the dealer. The counter-party also gets the temporary use of the securities.

 

https://www.investopedia.com/ask/answers/041615/what-difference-between-repurchase-agreement-and-reverse-repurchase-agreement.asp

https://apps.newyorkfed.org/markets/autorates/temp

 

FAQs: Reverse Repurchase Agreement Operations

 

What securities are being used for RRP operations?

The FOMC has directed the Desk to undertake RRP operations using Treasury securities held in the SOMA. The SOMA’s holdings of agency debentures and agency mortgage-backed securities are not currently used in the Desk’s RRP operations.

https://www.newyorkfed.org/markets/rrp_faq.html

 

Reverse Repo Counterparties

Reverse repo counterparties only operate with the New York Fed as cash providers in reverse repo operations. As such, they play a much more limited role in the New York Fed Trading Desk's (Desk's) operations than primary dealers, which may serve as counterparties in all of the Desk's domestic open market operations.

 

List of reverse repo counterparties

 

Banks

Ally Bank

Bank of America, N.A.

Bank of Montreal (Chicago Branch)

Barclays Bank PLC - New York Branch

Citibank, N.A.

Credit Agricole Corporate and Investment Bank

Discover Bank

Goldman Sachs Bank USA

JPMorgan Chase Bank, N.A.

Mizuho Bank, Ltd.

Morgan Stanley Bank, N.A.

Natixis New York Branch

Royal Bank of Canada

Sumitomo Mitsui Banking Corporation, NY branch

The Northern Trust Company

Wells Fargo Bank, NA

 

Government-Sponsored Enterprises

Federal Agricultural Mortgage Corporation (Farmer Mac)

Federal Home Loan Bank of Atlanta

Federal Home Loan Bank of Boston

Federal Home Loan Bank of Chicago

Federal Home Loan Bank of Cincinnati

Federal Home Loan Bank of Dallas

Federal Home Loan Bank of Des Moines

Federal Home Loan Bank of Indianapolis

Federal Home Loan Bank of New York

Federal Home Loan Bank of Pittsburgh

Federal Home Loan Bank of San Francisco

Federal Home Loan Bank of Topeka

Federal Home Loan Mortgage Corporation (Freddie Mac)

Federal National Mortgage Association (Fannie Mae)

 

there are many here link below, some highlights (or lowlights)

Investment Manager Money Market Funds

 

BlackRock Advisors, LLC

BNY Mellon Investment Adviser, Inc.

Goldman Sachs Asset Management

J. P. Morgan Investment Management Inc.

Fidelity Management & Research Company LLC

Legg Mason Partners Fund Advisor, LLC

Morgan Stanley Investment Management, Inc.

Northern Trust Investments, Inc

The Vanguard Group, Inc.

Wells Fargo Funds Management

 

bigger list here

https://www.newyorkfed.org/markets/rrp_counterparties.html

Anonymous ID: fa1168 March 31, 2020, 4:59 p.m. No.8641352   🗄️.is đź”—kun   >>1420 >>1507 >>1549

>>8640894

this is a redux of the Trash for cash program(s) from 2007-2010 and on. You show up to the FRBNY with your crappy debt and the FRBNY gives you full value of those Treasury's (basically the value on maturity) in digital cash and you as the receiver get to do whatever you want with the cash.