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| Securities Lending |
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| The Bank provides a secondary and temporary source of securities to the Treasury financing market through a Securities Lending program to promote smooth clearing of Treasury securities. The program offers securities for loan from the System Open Market Account (SOMA) portfolio in accordance with program terms and conditions. Securities loans are awarded to primary dealers based on competitive bidding in an auction held each business day at noon eastern standard time. |
| Securities Lending Transaction Volume Par value of securities lent per trading day ($ billions) |
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| Securities
Lending Operations View the details of the most recent securities lending operations, updated every trading day. |
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| Note: Contact general.info@ny.frb.org for historical data. | |
| News and Announcements |
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| Change in Minimum Fee Rate for SOMA Securities Lending Program December 17, 2008 |
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| Changes to SOMA Securities Lending Program October 8, 2008 |
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| Changes to Dealer Limits for SOMA Securities Lending Program September 23, 2008 |
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| Changes to Dealer Limits for SOMA Securities Lending Program September 23, 2008 |
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| Statement Regarding Securities Available for Daily Securities Lending Program August 22, 2008 |
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| Statement Regarding Change In Limits For SOMA Securities Lending Program November 26, 2007 |
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| Change
in Minimum Fee Rate for SOMA Securities Lending Program August 21, 2007 |
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| New
Features for Data on Securities Lending December 11, 2006 |
| Research Highlights |
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 When
the Back Office Moved to the Front Burner: Settlement Fails
in the Treasury Market after 9/11Examines the institutional and economic settling of the fails problem that affected the Treasury market following September 11 and describes how the Federal Reserve and the U.S. Treasury responded. Economic Policy Review 8 (2), November 2002 |
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Securities
Lending Transactions: Market Development and Implications
 Presents an overview of securities lending markets and discusses the implications of securities lending activities for market participants, securities clearance and settlement systems, and securities regulators and central banks. Committee on Payment and Settlement Systems, No. 32 July 1999 |
