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U.S. Markets

NY Fed names new counterparties for commercial paper and corporate credit facilities

FILE PHOTO: The cornerstone for the Federal Reserve Bank of New York is pictured in the Manhattan borough of New York City, New York, U.S., October 4, 2019. REUTERS/Carlo Allegri

(Reuters) - The Federal Reserve Bank of New York announced Friday that it has chosen additional counterparties to support the commercial paper funding facility and the secondary market corporate credit facility.

The New York Fed said it was naming BNY Mellon Capital Markets as an additional dealer for the commercial paper funding facility. CastleOak Securities, Great Pacific Securities, SMBC Nikko Securities America and U.S. Bancorp Investments were named as additional eligible sellers for the secondary market corporate credit facility.

Reporting by Jonnelle Marte

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