To implement monetary policy, short-term repurchase and reverse repurchase agreements are used to temporarily affect the size of the Federal Reserve System's portfolio and influence day-to-day trading in the federal funds market.

Temporary Open Market Operations for May 13, 2008
Last Updated: May 13, 2008 9:50 AM
Number of Operations Today: 2

The results for the following single collateral tranche operation have been released:

Deal Date: Tuesday, May 13, 2008
Delivery Date: Wednesday, May 14, 2008
Maturity Date: Wednesday, June 11, 2008
Type of Operation¹: Repo
Settlement: 1 Day Forward
Term of Operation²: 28 Days
Operation Close Time: 09:50 AM

42.700

20.000

Deal Date: Tuesday, May 13, 2008
Delivery Date: Tuesday, May 13, 2008
Maturity Date: Friday, May 16, 2008
Type of Operation¹: Repo
Settlement: Same Day
Term of Operation²: 3 Days
Operation Close Time: 09:40 AM

17.550

4.000

18.250

3.000

10.500

0.000

 46.300

  7.000

¹ Repo = Repurchase Agreement. Reverse RP = Reverse Repurchase Agreement. MSP = Matched Sale Purchase (replaced by Reverse RPs in December 2002).

² Calendar day count (as opposed to business day count) between Delivery and Maturity dates. Repurchase Agreements may be anywhere from overnight to 65 business days.

³ For Repo, Stop Out Rate is the lowest rate accepted. For Reverse Repo, the Stop Out Rate is the highest rate accepted.

⁴ Weighted Average refers to the weighted average rate of the accepted propositions.