Statement

Change to the SOMA Securities Lending Program

February 15, 2012

The Federal Reserve Bank of New York's Open Market Trading Desk is making the following change to the System Open Market Account (SOMA) securities lending program:

Consistent with the latest revision to section 3 of the FOMC authorization for domestic open market operations, the Federal Reserve Bank of New York may lend securities on longer than an overnight basis to accommodate weekend, holiday and similar trading conventions.

All other program terms will remain unchanged.