Fed’s Williams Discussed SRF Facility With Primary Dealers

New York Federal Reserve President John Williams met with primary dealers from Wall Street banks to discuss a short-term lending facility that has seen an uptick in usage in recent weeks.

Williams met with the dealers to discuss the Standing Repo Facility, which allows eligible institutions to borrow cash in exchange for Treasury and agency debt, a New York Fed spokesperson said. The meeting, which took place on the sidelines of the Fed’s annual Treasury market conference Wednesday, was first reported by the Financial Times.

John Williams

Photographer: David Dee Delgado/Bloomberg

“President Williams convened the New York Fed’s primary trading counterparties [primary dealers] to ...