New York Fed Selects Additional Firms to Broaden its Counterparty Base for CPFF and SMCCF

Posted on 10/23/2020

The Federal Reserve Bank of New York announced the selection of additional counterparties to support, as applicable, the Commercial Paper Funding Facility (CPFF) and the Secondary Market Corporate Credit Facility (SMCCF).

The additional commercial paper dealer for the CPFF is:

MUFG Securities Americas Inc.

The additional eligible sellers for the SMCCF are:

FHN Financial Securities Corp.
Flow Traders U.S. Institutional Trading LLC
Guzman & Company
Imperial Capital, LLC
Mischler Financial Group, Inc.
MUFG Securities Americas Inc.
Samuel A. Ramirez & Co., Inc.

According to the press release, “The New York Fed has an open and continuing application process for these roles and intends to name additional firms as counterparties and agents for agency CMBS, CPFF, SMCCF, and the Term Asset-Backed Securities Loan Facility (TALF) in the weeks ahead. Expression of Interest (EOI) materials can be found on the New York Fed’s website. Any questions about this process can be directed to

Applications are limited to firms meeting designated eligibility requirements, including size restrictions, transaction capabilities, financial condition, compliance controls, and equal opportunity and diversity efforts. Selected participants will only be able to act as counterparty or agent for the specific program for which they have been chosen, and not for any other 13(3) facilities or for other market operations of the New York Fed.”

Keywords: Federal Reserve System.

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