Markets

Simon M. Potter (bio)
Executive Vice President
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The Markets Group comprises many business areas that fulfill a range of responsibilities, from planning and executing open market operations to managing foreign customer accounts. The six main business areas are:

Automation Services
  • Provides data analysis and software engineering/development services.
  • Researches, tests and implements automation-related projects and facilitates data collection and distribution.
  • Maintains the Markets Group data network and provides desktop and contingency-site support.
Central Bank and International Account Services
  • Provides cash management, payment, securities clearing, custody, specialized investment, and settlement and confirmation services for Federal Reserve accounts held by foreign central banks and international agencies.
  • Acts as fiscal agent to the U.S. Treasury by providing settlement services in support of government securities auctions.
Domestic Reserves Management
  • Manages the supply of bank reserves in the banking system to achieve the policy targets of the Federal Open Market Committee (FOMC).
  • Projects the behavior of the components of the Federal Reserve's balance sheet and the liquidity demands of depository institutions.
  • Formulates and conducts temporary open market operations through repurchase agreements.
Financial Management and Discount Window
  • Provides accounting and portfolio management activities for both the domestic and foreign System Open Market Account portfolios.
  • Provides accounting services for the group's correspondent banking activities.
  • Researches and recommends accounting policy for Markets Group financial activities.
  • Serves as the central area for managing all operational and some financial risk for the activities of the Markets Group.
  • Provides performance measurement and administrative services to the Group.
  • Provides access to the Discount Window for institutions experiencing temporary liquidity needs.
Fixed Income and Foreign Exchange
  • Implements the monetary policy directives of the Federal Open Market Committee, the Federal Reserve's policy making arm, through the purchase and sale of U.S. Treasury securities for the System Open Market Account (SOMA).
  • Implements the foreign exchange policy of the U.S. monetary authorities and invests a portfolio of foreign currency reserves on their behalf.
  • Monitors global financial markets, providing briefings in support of the Federal Reserve System and U.S. Treasury.
  • Monitors price movements and activity in the Treasury market and related financing market on behalf of the Interagency Working Group on Market Surveillance.
  • Provides fiscal agency services in support of Treasury's buyback program.
  • Administers the SOMA securities lending program.
Treasury Relationship Management and Office of Management and Budget
  • Provides fiscal agent services in support of the Treasury auction process.
  • Effects the original issuance of Treasury securities to the primary market.
  • Provides analysis of auction participants' practices and behavior in the U.S. primary market. and Provides information and analysis to Treasury related to debt management issues.
  • Supports other operational aspects of the Treasury's auction and issuance process through automation support and support for Treasury's customers.