Reverse Repo Counterparties: List & Eligibility Requirements - FEDERAL RESERVE BANK of NEW YORK

Reverse Repo Counterparties: List & Eligibility Requirements - FEDERAL RESERVE BANK of NEW YORK
Reverse Repo Counterparties
The New York Fed Trading Desk (Desk) conducts reverse repo transactions to help keep the effective federal funds rate from falling below the target range set by the Federal Open Market Committee. In addition to primary dealers, participants in these transactions include reverse repo counterparties.
List of reverse repo counterparties
Current List, Additions, Removals & Name Changes
reverse repo counterparties
Additions and Removals
Name Changes
Reverse Repo Counterparties
Banks
Ally Bank
Bank of America, N.A.
Barclays Bank PLC, New York Branch
Citibank, N.A.
Credit Agricole Corporate and Investment Bank
Goldman Sachs Bank USA
HSBC Bank USA, N.A.
JPMorgan Chase Bank, N.A.
Mizuho Bank, Ltd., New York Branch
Morgan Stanley Bank, N.A.
Natixis New York Branch
Royal Bank of Canada, Three World Financial Center Branch
Sumitomo Mitsui Banking Corporation, NY Branch
The Northern Trust Company
U.S. Bank National Association
Wells Fargo Bank, NA
Government-Sponsored Enterprises
AgFirst Farm Credit Bank
AgriBank FCB
CoBank, ACB
Farm Credit Bank of Texas
Federal Agricultural Mortgage Corporation (Farmer Mac)
Federal Home Loan Bank of Atlanta
Federal Home Loan Bank of Boston
Federal Home Loan Bank of Chicago
Federal Home Loan Bank of Cincinnati
Federal Home Loan Bank of Dallas
Federal Home Loan Bank of Des Moines
Federal Home Loan Bank of Indianapolis
Federal Home Loan Bank of New York
Federal Home Loan Bank of Pittsburgh
Federal Home Loan Bank of San Francisco
Federal Home Loan Bank of Topeka
Federal Home Loan Mortgage Corporation (Freddie Mac)
Federal National Mortgage Association (Fannie Mae)
Investment Manager
Money Market Funds
AllianceBernstein L.P.
AB Fixed-Income Shares, Inc. - AB Government Money Market Portfolio
Allspring Funds Management, LLC
Allspring Government Money Market Fund
Allspring Money Market Fund
Allspring Treasury Plus Money Market Fund
BlackRock Advisors, LLC
BlackRock Liquidity Funds: FedFund
BlackRock Liquidity Funds: T-Fund
BlackRock Liquidity Funds: TempCash
BlackRock Fund Advisors
Money Market Master Portfolio
Treasury Money Market Master Portfolio
BNY Mellon Investment Adviser, Inc.
Dreyfus Government Cash Management
Dreyfus Institutional Preferred Government Money Market Fund
Dreyfus Treasury and Agency Liquidity Money Market Fund
Dreyfus Treasury Obligations Cash Management
Capital Research and Management Company
American Funds U.S. Government Money Market Fund
Capital Group Central Fund Series, Capital Group Central Cash Fund
Cavanal Hill Investment Management, Inc.
Cavanal Hill Government Securities Money Market Fund
Cavanal Hill U.S. Treasury Fund
Charles Schwab Investment Management, Inc.
Schwab Government Money Fund
Schwab Prime Advantage Money Fund
Schwab Retirement Government Money Fund
Schwab Treasury Obligations Money Fund
Schwab US Treasury Money Fund
Columbia Management Investment Advisers, LLC
Columbia Short-Term Cash Fund, a series of Columbia Funds Series Trust II
DWS Investment Management Americas, Inc.
DWS Government & Agency Fund
Government Cash Management Portfolio
Federated Investment Management Company
Edward Jones Money Market Fund
Federated Hermes Capital Reserves Fund
Federated Hermes Government Obligations Fund
Federated Hermes Government Obligations Tax-Managed Fund
Federated Hermes Government Reserves Fund
Federated Hermes Institutional Prime Obligations Fund
Federated Hermes Municipal Obligations Fund
Federated Hermes Prime Cash Obligations Fund
Federated Hermes Tax-Free Obligations Fund
Federated Hermes Treasury Obligations Fund
Federated Hermes Trust for U.S. Treasury Obligations
Fidelity Management & Research Company LLC
Fidelity Colchester Street Trust: Government Portfolio
Fidelity Colchester Street Trust: Money Market Portfolio
Fidelity Colchester Street Trust: Treasury Portfolio
Fidelity Hereford Street Trust: Fidelity Government Money Market Fund
Fidelity Hereford Street Trust: Fidelity Money Market Fund
Fidelity Newbury Street Trust: Fidelity Treasury Money Market Fund
Fidelity Phillips Street Trust: Fidelity Government Cash Reserves
Fidelity Revere Street Trust: Fidelity Cash Central Fund
Fidelity Revere Street Trust: Fidelity Securities Lending Cash Central Fund
Fidelity Salem Street Trust: Fidelity Series Government Money Market Fund
Variable Insurance Products Fund V: VIP Government Money Market Portfolio
Franklin Advisers, Inc.
The Money Market Portfolio
Goldman Sachs Asset Management
Goldman Sachs Financial Square Government Fund
Goldman Sachs Financial Square Treasury Obligations Fund
Goldman Sachs Financial Square Treasury Solutions Fund
Goldman Sachs Investor Money Market Fund
HSBC Global Asset Management (USA), Inc.
HSBC U.S. Government Money Market Fund
Invesco Advisers, Inc.
Invesco Government & Agency Portfolio
Invesco Government Money Market Fund
Invesco Premier U.S. Government Money Portfolio
Invesco Treasury Portfolio
Jackson National Asset Management, LLC
JNL Government Money Market Fund
JNL/Dreyfus Government Money Market Fund
J. P. Morgan Investment Management Inc.
JPMorgan 100% U.S. Treasury Securities Money Market Fund
JPMorgan Liquid Assets Money Market Fund
JPMorgan Prime Money Market Fund
JPMorgan Tax Free Money Market Fund
JPMorgan U.S. Government Money Market Fund
JPMorgan U.S. Treasury Plus Money Market Fund
Legg Mason Partners Fund Advisor, LLC
Western Asset/Government Portfolio
Western Asset/Liquid Reserves Portfolio
Western Asset/U.S. Treasury Reserves Portfolio
Morgan Stanley Investment Management, Inc.
Morgan Stanley Institutional Liquidity Funds Government Portfolio
Morgan Stanley Institutional Liquidity Funds Government Securities Portfolio
Morgan Stanley Institutional Liquidity Funds Prime Portfolio
Morgan Stanley Institutional Liquidity Funds Treasury Portfolio
Morgan Stanley Institutional Liquidity Funds Treasury Securities Portfolio
Northern Trust Investments, Inc.
NTAM Treasury Assets Fund
Northern Funds - U.S. Government Money Market Fund
Northern Funds - U.S. Government Select Money Market Fund
Northern Institutional Funds - Government Portfolio
Northern Institutional Funds - Government Select Portfolio
Northern Institutional Funds - Treasury Portfolio
Pacific Investment Management Company LLC
PIMCO Funds: PIMCO Government Money Market Fund
PGIM Investments LLC
Prudential Government Money Market Fund, Inc. - PGIM Core Government Money Market Fund
Prudential Investment Portfolios 2 - PGIM Institutional Money Market Fund
Principal Global Investors, LLC
Principal Funds, Inc. - Government Money Market Fund
RBC Global Asset Management (U.S.) Inc.
RBC Funds Trust, U.S. Government Money Market Fund
SSgA Funds Management, Inc.
Institutional US Gov. Money Market Fund, a series of the State Street Master Funds
State Street Navigator Securities Lending Government Money Market Portfolio
State Street Treasury Plus Money Market Portfolio
TCW Investment Management Company LLC
TCW Central Cash Fund
T. Rowe Price Associates, Inc.
T. Rowe Price Cash Reserves Fund
T. Rowe Price Government Money Fund, Inc.
T. Rowe Price Government Reserve Fund
T. Rowe Price Treasury Reserve Fund
T. Rowe Price U.S. Treasury Money Fund
UBS Asset Management (Americas) LLC
Government Master Fund
Limited Purpose Cash Investment Fund
Prime CNAV Master Fund
Treasury Master Fund
U.S. Bancorp Asset Management, Inc.
First American Government Obligations Fund
First American Treasury Obligations Fund
The Vanguard Group, Inc.
Vanguard Admiral Funds - Vanguard Treasury Money Market Fund
Vanguard CMT Funds - Vanguard Market Liquidity Fund
Vanguard Money Market Reserves - Vanguard Cash Reserves Federal Money Market Fund
Vanguard Money Market Reserves - Vanguard Federal Money Market Fund
Vanguard Variable Insurance Funds - Vanguard Money Market Portfolio
Wilmington Funds Management Corp.
Wilmington U.S. Government Money Market Fund
Additions and Removals
2025
Oct 3, 2025
TCW Central Cash Fund has been added to the list of reverse repo counterparties, effective October 3.
Revised List
Aug 8, 2025
U.S. Bank National Association has been added to the list of reverse repo counterparties, effective August 8.
Revised List
Jun 16, 2025
State Street Institutional Liquid Reserves Government Money Market Fund merged into State Street Institutional U.S. Government Money Market Fund, effective close of business June 13.
Revised List
May 16, 2025
JPMorgan 100% U.S. Treasury Securities Money Market Fund and Prime CNAV Master Fund (managed by UBS Asset Management) have been added to the list of reverse repo counterparties, effective May 16.
Revised List
Jan 9, 2025
UBS AG New York (Eleven Madison Avenue) Branch is no longer a reverse repo counterparty, effective January 9.
Revised List
2024
Sep 17, 2024
The following are no longer reverse repo counterparties, effective September 17.
Goldman Sachs Financial Square Money Market Fund
Goldman Sachs Financial Square Prime Obligations Fund
Revised List
Sep 9, 2024
The following are no longer reverse repo counterparties, effective September 9.
BlackRock Liquidity Funds: TempFund
Dreyfus Cash Management
Schwab Variable Share Price Money Fund
Revised List
Aug 26, 2024
Prime Master Fund managed by UBS Asset Management is no longer a reverse repo counterparty, effective August 26.
Revised List
Aug 19, 2024
Allspring Heritage Money Market Fund is no longer a reverse repo counterparty, effective August 19.
Revised List
Aug 2, 2024
DFA Short Term Investment Fund of The DFA Investment Trust Company is no longer a reverse repo counterparty, effective August 1.
Revised List
Jul 29, 2024
Federated Hermes Institutional Prime Value Obligations Fund is no longer a reverse repo counterparty, effective July 29.
Revised List
May 17, 2024
Prudential Government Money Market Fund, Inc. - PGIM Core Government Money Market Fund has been added to the list of reverse repo counterparties, effective May 17.
Revised List
2023
Oct 6, 2023
AgFirst Farm Credit Bank has been added to the list of reverse repo counterparties, effective October 6.
Revised List
Aug 8, 2023
The following have been added to the list of reverse repo counterparties, effective August 8.
Farm Credit Bank of Texas
Credit Suisse AG, New York Branch
Schwab US Treasury Money Fund
Revised List
Jun 2, 2023
The following have been added to the list of reverse repo counterparties, effective June 2.
Goldman Sachs Investor Money Market Fund
JNL Government Money Market Fund
JNL/WMC Government Money Market Fund
Revised List
May 5, 2023
The following have been added to the list of reverse repo counterparties, effective May 5.
Cavanal Hill U.S. Treasury Fund
Vanguard Variable Insurance Funds - Vanguard Money Market Portfolio
Revised List
2022
Nov 14, 2022
The following have been added to the list of reverse repo counterparties, effective November 14.
DWS Government & Agency Fund
Schwab Retirement Government Money Fund
Revised List
Sep 30, 2022
AgriBank FCB has been added to the list of reverse repo counterparties, effective September 30.
Revised List
Jun 29, 2022
Federated Hermes U.S. Treasury Cash Reserves is no longer a reverse repo counterparty, effective June 29.
Revised List
Apr 15, 2022
Cavanal Hill Government Securities Money Market Fund has been added to the list of reverse repo counterparties, effective April 15.
Revised List
Mar 22, 2022
Prudential Investment Portfolios 2 - PGIM Institutional Money Market Fund has been added to the list of reverse repo counterparties, effective March 22.
Revised List
Jan 14, 2022
The following have been added to the list of reverse repo counterparties, effective January 14.
Invesco Government Money Market Fund
Invesco Premier U.S. Government Money Portfolio
T. Rowe Price Cash Reserves Fund
Revised List
2021
Dec 13, 2021
Bank of Montreal (Chicago Branch) is no longer a reverse repo counterparty, effective December 13.
Revised List
Dec 3, 2021
PIMCO Funds: PIMCO Government Money Market Fund has been added to the list of reverse repo counterparties, effective December 3.
Revised List
Oct 22, 2021
Principal Funds, Inc. - Government Money Market Fund has been added to the list of reverse repo counterparties, effective October 22.
Revised List
Aug 26, 2021
The following have been added to the list of reverse repo counterparties, effective August 26.
Federated Hermes Capital Reserves Fund
Federated Hermes Municipal Obligations Fund
Federated Hermes Tax-Free Obligations Fund
Northern Funds - U.S. Government Select Money Market Fund
Schwab Variable Share Price Money Fund
Revised List
May 27, 2021
The following have been added to the list of reverse repo counterparties, effective May 27.
T. Rowe Price Treasury Reserve Fund
Vanguard Admiral Funds - Vanguard Treasury Money Market Fund
Revised List
Feb 3, 2021
Discover Bank is no longer a reverse repo counterparty, effective February 3.
Revised List
2020
Sep 3, 2020
The following have been added to the list of reverse repo counterparties, effective September 3.
HSBC Bank USA, N.A.
CoBank, ACB
Federated Hermes Trust for U.S. Treasury Obligations
Revised List
Aug 27, 2020
The following money market funds are no longer reverse repo counterparties, effective August 27.
Federated Hermes Capital Reserves Fund
Federated Hermes Institutional Money Market Management
Federated Hermes Tax-Free Obligations Fund
General Money Market Fund (BNY Mellon Investment Adviser, Inc.)
Goldman Sachs Investor Tax-Exempt Money Market Fund
Master Treasury Strategies Institutional Portfolio (BlackRock Advisors, LLC)
PFM Funds Government Select Series
Premier Portfolio, a series of the AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust)
STIT Liquid Assets Portfolio (Invesco Advisers, Inc.)
T. Rowe Price Cash Reserves Fund
Wells Fargo Cash Investment Money Market Fund
Revised List
Aug 14, 2020
Fidelity Colchester Street Trust: Prime Money Market Portfolio and Fidelity Colchester Street Trust: Prime Reserves Portfolio are no longer reverse repo counterparties, effective August 14.
Revised List
Jun 15, 2020
Western Asset/U.S. Treasury Reserves Portfolio and Morgan Stanley Institutional Liquidity Funds Treasury Securities Portfolio have been added to the list of reverse repo counterparties, effective June 15.
Revised List
Mar 2, 2020
Variable Insurance Products Fund V: VIP Government Money Market Portfolio, managed by Fidelity Management & Research Company LLC, has been added to the list of reverse repo counterparties, effective March 2.
Revised List
Feb 13, 2020
Master Premier Government Institutional Portfolio, managed by BlackRock Advisors, LLC, is no longer a reverse repo counterparty, effective February 13.
Revised List
2019
Dec 20, 2019
Capital Group Central Fund Series, Capital Group Central Cash Fund has been added to the list of reverse repo counterparties, effective December 20.
Revised List
Nov 18, 2019
PNC Government Money Market Fund is no longer a reverse repo counterparty, effective November 18.
Revised List
Nov 15, 2019
Fidelity Hereford Street Trust: Fidelity Money Market Fund has been added to the list of reverse repo counterparties, effective November 15.
Revised List
Oct 8, 2019
NTAM Treasury Assets Fund, managed by Northern Trust Investments, Inc., has been added to the list of reverse repo counterparties, effective October 8.
Revised List
Jul 19, 2019
Fidelity Colchester Street Trust: Prime Reserves Portfolio has been added to the list of reverse repo counterparties, effective July 19.
Revised List
Jun 21, 2019
Oppenheimer Institutional Government Money Market Fund is no longer a reverse repo counterparty, effective May 25.
Revised List
Jun 7, 2019
Master Money LLC, managed by BlackRock Advisors, LLC, is no longer a reverse repo counterparty, effective April 2.
Revised List
Jun 6, 2019
Dreyfus Treasury and Agency Liquidity Money Market Fund and Schwab Treasury Obligations Money Fund have been added to the list of reverse repo counterparties, effective June 6.
Revised List
May 3, 2019
Schwab Cash Reserves is no longer a reverse repo counterparty, effective April 10.
Revised List
2018
Dec 20, 2018
Schwab Advisor Cash Reserves is no longer a reverse repo counterparty, effective October 31.
Revised List
Oct 2, 2018
Fidelity Hereford Street Trust: Fidelity Money Market Fund is no longer a reverse repo counterparty, effective October 2.
Revised List
Aug 14, 2018
Limited Purpose Cash Investment Fund, managed by UBS Asset Management (Americas) Inc., has been added to the list of reverse repo counterparties, effective August 14.
Revised List
Aug 13, 2018
Active Assets Government Trust, managed by Morgan Stanley Investment Management Inc., is no longer a reverse repo counterparty, effective August 13.
Revised List
May 29, 2018
Schwab Money Market Fund is no longer a reverse repo counterparty, effective May 28.
Revised List
Jan 11, 2018
Oppenheimer Institutional Government Money Market Fund, managed by OFI Global Asset Management, Inc., has been added to the list of reverse repo counterparties, effective January 11.
Revised List
2017
Dec 18, 2017
The following are no longer reverse repo counterparties, effective December 18.
Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A., "Rabobank Nederland", New York Branch
HSBC Bank USA, National Association
Northern Funds - Money Market Fund
Svenska Handelsbanken AB (publ) New York Branch
U.S. Bancorp Asset Management - First American Prime Obligations Fund
Revised List
Nov 29, 2017
Northern Institutional Funds Government Assets Portfolio merged into Northern Institutional Government Portfolio, effective close of business November 28.
Revised List
Nov 13, 2017
Credit Suisse AG, New York Branch is no longer a reverse repo counterparty, effective November 13.
Revised List
Nov 6, 2017
Active Assets Government Trust, managed by Morgan Stanley Investment Management Inc., has been added to the list of reverse repo counterparties, effective November 6.
Revised List
Oct 11, 2017
JPMorgan 100% U.S. Treasury Securities Money Market Fund is no longer a reverse repo counterparty, effective August 21.
Revised List
Sep 22, 2017
Fidelity Money Market Trust: Retirement Government Money Market II Portfolio merged into Fidelity Hereford Street Trust: Fidelity Government Money Market Fund, effective close of business September 22.
Revised List
Aug 16, 2017
BlackRock Treasury Money Market Master Portfolio and Wilmington U.S. Government Money Market Fund have been added to the list of reverse repo counterparties, effective August 16.
Revised List
Jul 31, 2017
T. Rowe Price U.S. Treasury Money Fund has been added to the list of reverse repo counterparties, effective July 31.
Revised List
Jun 16, 2017
Dreyfus Institutional Preferred Money Market Fund and Blackrock Prime Money Market Master Portfolio have been removed from the list of reverse repo counterparties, effective June 16.
Revised List
Feb 6, 2017
American Funds U.S. Government Money Market Fund has been added to the list of reverse repo counterparties, effective February 6.
Revised List
Jan 23, 2017
PNC Government Money Market Fund has been added to the list of reverse repo counterparties, effective January 23.
Revised List
2016
Dec 27, 2016
Northern Funds - U.S. Government Money Market Fund has been added to the list of reverse repo counterparties, effective December 27.
Revised List
Oct 14, 2016
SSgA Money Market Fund and SSgA Prime Money Market Fund merged into State Street Institutional Liquid Reserve Portfolio, effective August 26. Mount Vernon Securities Lending Prime Portfolio is no longer a reverse repo counterparty, effective October 3.
Revised List
Oct 11, 2016
HSBC Prime Money Market Fund merged into HSBC U.S. Government Money Market Fund, effective October 7.
Revised List
Oct 5, 2016
Dreyfus Institutional Cash Advantage Fund merged into Dreyfus Institutional Preferred Money Market Fund, effective October 5.
Revised List
Sep 26, 2016
Federal Home Loan Bank of Indianapolis has been added to the list of reverse repo counterparties, effective September 26.
Revised List
Aug 30, 2016
Western Asset/Institutional Cash Reserves Portfolio is no longer a reverse repo counterparty, effective August 30.
Revised List
Aug 29, 2016
SSGA US Treasury Money Market Fund has been removed and State Street Treasury Plus Money Market Portfolio has been added to the list of reverse repo counterparties, effective August 29.
Revised List
Aug 15, 2016
Following the designation of the Fidelity Colchester Street Trust: Money Market Portfolio as a retail money market fund and the transition of certain of its institutional client assets to the Fidelity Salem Street Trust: Fidelity Series Government Money Market Fund, Fidelity Salem Street Trust: Fidelity Series Government Money Market Fund has been added to the list of reverse repo counterparties, effective August 15.
Revised List
Aug 10, 2016
Morgan Stanley Liquid Asset Fund Inc. and Active Assets Money Trust have been removed, and Morgan Stanley Institutional Liquidity Funds Government Securities Portfolio has been added, to the list of reverse repo counterparties, effective August 10.
Revised List
Jun 24, 2016
UBS RMA Money Market Portfolio has been removed and Government Master Fund has been added to the list of reverse repo counterparties, effective June 24.
Revised List
May 4, 2016
Federated Institutional Money Market Management has been added to the list of reverse repo counterparties, effective May 4.
Revised List
Apr 18, 2016
BofA Cash Reserves and BofA Money Market Reserves merged into Blackrock TempFund, and BofA Treasury Reserves merged into Blackrock T-Fund, effective April 18.
Revised List
Mar 30, 2016
Prudential Investment Portfolios 2 - Prudential Core Taxable Money Market Fund is no longer a reverse repo counterparty, effective March 30.
Revised List
Mar 28, 2016
RBC Prime Money Market Fund is no longer a reverse repo counterparty, effective March 25.
Revised List
Feb 2, 2016
HSBC Prime Money Market Fund and HSBC US Government Money Market Fund managed by HSBC Global Asset Management (USA), Inc. have been added to the list of reverse repo counterparties, effective February 2.
Revised List
2015
Dec 30, 2015
Abbey National Treasury Services plc (US Branch), The Bank of New York Mellon and Deutsche Bank AG NY are no longer reverse repo counterparties, effective December 23.
Revised List
Dec 7, 2015
Société Générale New York Branch is no longer a reverse repo counterparty, effective December 7.
Revised List
Nov 13, 2015
Fidelity Newbury Street Trust: Prime Fund merged into Fidelity Hereford Street Trust: Fidelity Government Money Market Fund, effective close of business November 13.
Revised List
Nov 9, 2015
Fidelity Fixed Income Trust: Money Market Portfolio merged into Fidelity Hereford Street Trust: Fidelity Money Market Fund, effective November 9.
Revised List
Aug 12, 2015
Federated Tax-Free Obligations Fund, Federated U.S. Treasury Cash Reserves, and Federated Government Obligations Tax-Managed Fund have been added to the list of reverse repo counterparties.
Revised List
Aug 3, 2015
Federal Home Loan Bank of Pittsburgh and The Money Market Portfolio managed by Franklin Advisers, Inc. have been added to the list of reverse repo counterparties.
Revised List
Jun 1, 2015
Federal Home Loan Bank of Seattle merged into Federal Home Loan Bank of Des Moines, effective May 31.
Revised List
May 21, 2015
Federal Home Loan Bank of Topeka has been added to the list of reverse repo counterparties.
Revised List
Mar 20, 2015
Reich & Tang Daily Income Fund - Money Market Portfolio is no longer a reverse repo counterparty.
Revised List
Jan 16, 2015
Banks, government-sponsored enterprises and money funds announced.
Additions
Jan 16, 2015
Banks, government-sponsored enterprises and money funds announced.
Revised List
2014
Nov 24, 2014
State Street Bank and Trust Company is no longer a reverse repo counterparty.
Revised List
2013
Apr 18, 2013
TDAM Money Market Portfolio is no longer a reverse repo counterparty.
Revised List
Apr 5, 2013
Wells Fargo Advantage Prime Investment Money Market Fund merged into Wells Fargo Advantage Heritage Money Market Fund, effective March 1, 2013.
Revised List
Jan 15, 2013
Banks, government-sponsored enterprises and money funds announced.
Additions
Jan 15, 2013
Banks, government-sponsored enterprises and money funds announced.
Revised List
2012
Apr 30, 2012
Banks announced.
Additions
Apr 30, 2012
Banks announced.
Revised List
2011
Dec 1, 2011
Banks announced.
Additions
Dec 1, 2011
Banks announced.
Revised List
Dec 1, 2011
Drefyus Cash Management Plus Fund merged into Dreyfus Cash Management Fund, effective August 25, 2011.
Revised List
Jul 27, 2011
Government-sponsored enterprises announced.
Additions
Jul 27, 2011
Government-sponsored enterprises announced.
Revised List
May 23, 2011
Third wave of money funds announced.
Additions
May 23, 2011
Third wave of money funds announced.
Revised List
Jan 31, 2011
Second wave of money funds announced.
Additions
Jan 31, 2011
Second wave of money funds announced.
Revised List
2010
Aug 18, 2010
First wave of money funds announced.
Original list
Name Changes
2025
May 22, 2025
Schwab Value Advantage Money Fund is changed to Schwab Prime Advantage Money Fund, effective May 22.
Revised List
Apr 16, 2025
Royal Bank of Canada is changed to Royal Bank of Canada, Three World Financial Center Branch, effective April 16.
Revised List
Mar 10, 2025
Institutional Liquid Reserve Portfolio is changed to State Street Institutional Liquid Reserves Government Money Market Fund, effective March 10.
Revised List
2024
Oct 21, 2024
JNL/WMC Government Money Market Fund is changed to JNL/Dreyfus Government Money Market Fund, effective October 21.
Revised List
May 31, 2024
Credit Suisse AG, New York Branch is changed to UBS AG New York (Eleven Madison Avenue) Branch, effective May 31.
Revised List
Mar. 8, 2024
Mizuho Bank, Ltd. is changed to Mizuho Bank, Ltd., New York Branch.
Revised List
Mar. 1, 2024
UBS Asset Management (Americas) Inc. is changed to UBS Asset Management (Americas) LLC, effective March 1.
Revised List
2022
Nov 14, 2022
Deutsche Investment Management Americas, Inc. is changed to DWS Investment Management Americas, Inc., effective November 14.
Revised List
Aug 5, 2022
Sumitomo Mitsui Banking Corporation, NY branch is changed to Sumitomo Mitsui Banking Corporation, NY Branch, effective August 5.
Revised List
Jul 1, 2022
Barclays Bank PLC - New York Branch is changed to Barclays Bank PLC, New York Branch, effective July 1.
Revised List
Jan 14, 2022
The following Invesco funds changed their names, effective January 14.
Old Name
New Name
STIT Government and Agency Portfolio
Invesco Government & Agency Portfolio
STIT Treasury Portfolio
Invesco Treasury Portfolio
Revised List
2021
Dec 6, 2021
The following Wells Fargo funds changed their names, effective December 6.
Old Name
New Name
Wells Fargo Government Money Market Fund
Allspring Government Money Market Fund
Wells Fargo Heritage Money Market Fund
Allspring Heritage Money Market Fund
Wells Fargo Money Market Fund
Allspring Money Market Fund
Wells Fargo Treasury Plus Money Market Fund
Allspring Treasury Plus Money Market Fund
Revised List
Nov 1, 2021
Wells Fargo Funds Management, LLC is changed to Allspring Funds Management, LLC, effective November 1.
Revised List
2020
Sep 29, 2020
Vanguard Prime Money Market Fund changed its name to Vanguard Cash Reserves Federal Money Market Fund, effective September 29.
Revised List
Jun 26, 2020
The following Federated funds changed their names, effective June 26.
Old Name
New Name
Federated Capital Reserves Fund
Federated Hermes Capital Reserves Fund
Federated Government Obligations Fund
Federated Hermes Government Obligations Fund
Federated Government Obligations Tax-Managed Fund
Federated Hermes Government Obligations Tax-Managed Fund
Federated Government Reserves Fund
Federated Hermes Government Reserves Fund
Federated Institutional Money Market Management
Federated Hermes Institutional Money Market Management
Federated Prime Cash Obligations Fund
Federated Hermes Prime Cash Obligations Fund
Federated Prime Obligations Fund
Federated Hermes Institutional Prime Obligations Fund
Federated Prime Value Obligations Fund
Federated Hermes Institutional Prime Value Obligations Fund
Federated Tax-Free Obligations Fund
Federated Hermes Tax-Free Obligations Fund
Federated Treasury Obligations Fund
Federated Hermes Treasury Obligations Fund
Federated U.S. Treasury Cash Reserves
Federated Hermes U.S. Treasury Cash Reserves
Revised List
Jan 3, 2020
Fidelity Investments Money Management, Inc. merged with and into Fidelity Management & Research Company. Fidelity Management & Research Company changed its name to Fidelity Management & Research Company LLC. Effective January 1, 2020.
Revised List
2019
Jul 1, 2019
Dreyfus Treasury & Agency Cash Management changed its name to Dreyfus Treasury Obligations Cash Management, effective July 1.
Revised List
Jun 3, 2019
The Dreyfus Corporation changed its name to BNY Mellon Investment Adviser, Inc., effective June 3.
Revised List
2018
Mar 23, 2018
The name of the State Street Navigator Securities Lending Trust has been updated to reflect the legal entity name State Street Navigator Securities Lending Government Money Market Portfolio, effective March 23.
Revised List
2017
Jan. 27, 2017
The Investment Manager primarily responsible for the day-to-day management of the Edward Jones Money Market Fund's portfolio changed from Passport Research, Ltd. to Federated Investment Management Company, effective January 27.
Revised List
2016
Nov. 4, 2016
Goldman Sachs Financial Square Tax-Free Money Market Fund changed its name to Goldman Sachs Investor Tax-Exempt Money Market Fund, effective March 31.
Revised List
Oct 6, 2016
Northern Institutional Funds - Diversified Assets Portfolio changed its name to Northern Institutional Funds - Government Assets Portfolio, effective September 30.
Revised List
Oct 3, 2016
PFM Funds - Prime Series changed its name to PFM Funds Government Select Series, effective October 3.
Revised List
Aug 11, 2016
AllianceBernstein - Government STIF Portfolio changed its name to AB Fixed-Income Shares, Inc. – AB Government Money Market Portfolio, Inc., effective May 30.
Revised List
Aug 1, 2016
T. Rowe Price Prime Reserve Fund changed its name to T. Rowe Price Government Money Fund, Inc., T. Rowe Price Summit Cash Reserves Fund changed its name to T. Rowe Price Cash Reserves Fund and T. Rowe Price Reserve Investment Fund changed its name to T. Rowe Price Government Reserve Fund, effective August 1.
Revised List
May 2, 2016
Deutsche Cash Management Master Portfolio changed its name to Government Cash Management Portfolio, and Master Government Institutional Portfolio managed by Blackrock Advisors, LLC, changed its name to Master Treasury Strategies Institutional Portfolio, effective May 2.
Revised List
Jan 5, 2016
BlackRock Advisors, LLC, changed Master Institutional Portfolio to Master Government Institutional Portfolio and Master Premier Institutional Portfolio to Master Premier Government Institutional Portfolio, effective January 4.
Revised List
Jan 5, 2016
Fidelity Newbury Street Trust: Treasury Fund changed its name to Fidelity Newbury Street Trust: Fidelity Treasury Money Market Fund, effective December 30, 2015.
Revised List
2015
Dec 18, 2015
The word "Advantage" was removed from all Wells Fargo Fund names, effective December 15.
Revised List
Dec 1, 2015
Fidelity Money Market Trust: Retirement Money Market Portfolio changed its name to Fidelity Money Market Trust: Retirement Government Money Market II Portfolio and Fidelity Phillips Street Trust: Fidelity Cash Reserves changed its name to Fidelity Phillips Street Trust: Fidelity Government Cash Reserves, effective December 1.
Revised List
Nov 20, 2015
Dreyfus Institutional Reserves Money Fund changed its name to Dreyfus Institutional Preferred Government Money Market Fund, effective November 1.
Revised List
Oct 1, 2015
Goldman Sachs Financial Square Federal Fund changed its name to Goldman Sachs Financial Square Treasury Solutions Fund, effective October 1.
Revised list
2014
Jun 23, 2014
BlackRock Fund Advisors, LLC changed its name to BlackRock Fund Advisors, effective June 23.
Revised list
2013
Jul 1, 2013
Mizuho Corporate Bank, Ltd. changed its name to Mizuho Bank, Ltd., effective July 1.
Revised list
2011
Jan 20, 2011
FAF Advisors, Inc. changed its name to U.S. Bancorp Asset Management, Inc., effective January 1.
Revised list
New reverse repurchase transaction counterparties will begin transacting with the New York Fed upon completion of legal, operational and technical setup. Each listed counterparty expressed an interest to be an eligible RRP counterparty under the criteria published by the New York Fed. Inclusion on this list simply means that, should the New York Fed conduct reverse repurchase agreements, those listed would be eligible to participate. It does not mean that any listed eligible RRP counterparty is eligible for any other program or transactional relationship with the New York Fed. References to investment managers may include wholly-owned subsidiaries of the listed entities.
Expectations & Eligibility Requirements
These expectations supplement those outlined in the
Federal Reserve Bank of New York Policy on Counterparties for Market Operations
Specific Expectations & Eligibility Requirements
Disclaimer
The Federal Reserve Bank of New York's relationships with private sector counterparties described in this policy are business, not regulatory, relationships entered into by the New York Fed for the purposes described herein. That a firm is a New York Fed counterparty is not an endorsement of the firm by the New York Fed and should not be used as a substitute for independent analysis and due diligence by other parties considering a business relationship with the firm.
Role of reverse repo counterparties in New York Fed market operations
The New York Fed Trading Desk conducts reverse repo transactions to help keep the effective federal funds rate from falling below the target range set by the Federal Open Market Committee. In addition to primary dealers, participants in these transactions include reverse repo counterparties.
Reverse Repo (RRP) counterparties are expected to transact in at least two Overnight Reverse Repo (ON RRP) operations every six months to ensure robust end-to-end testing of trading and settlement systems.
Eligibility criteria
In order to be eligible to become a reverse repo counterparty, a firm must be either:
A state or federally chartered bank or savings association (or a state or federally licensed branch or agency of a foreign bank) with total assets equal to or greater than $30 billion, or reserve balances equal to or greater than $10 billion on the last quarter for which relevant FFIEC reports are available; or
A government-sponsored enterprise; or
An SEC-registered 2a-7 fund that has, measured at each month-end for the most recent six consecutive months, either net assets of no less than $2 billion or an average outstanding amount of RRP transactions of no less than $500 million.
SEC-registered 2a-7 funds that, in the sole judgment of the New York Fed, are organized for a single beneficial owner, or exhibit sufficient similarities to a fund so organized, generally will be deemed ineligible to access reverse repo operations. Such arrangements would suggest that the single beneficial owner has direct and controlling access to reverse repo operations, which is inconsistent with the RRP counterparty eligibility criteria. These operations are only available to funds, which are generally more widely held, GSEs, banks, and primary dealers. This generally would not disqualify a fund that serves as the cash management vehicle for multiple funds or investment entities in an investment fund complex.
Firms must already have arrangements in place to operate in the triparty repo market, in transactions collateralized by U.S. government debt, agency debt and agency mortgage-backed securities.
Firms must be able to execute RRPs with securities margined at 100% (i.e. the value of the securities provided by the New York Fed will equal the funds provided by the counterparty).
Firms should contact the New York Fed at
RRPInfo@ny.frb.org
before formally expressing interest in becoming an RRP counterparty and providing the requested information.
Expression of Interest Form for RRP Counterparties: Banks and Savings Associations
Expression of Interest Form for RRP Counterparties: Government-Sponsored Enterprises
Expression of Interest Form for RRP Counterparties: Money Funds
Accessing reverse repo operations should be a natural extension of the existing business of any RRP counterparty. An RRP counterparty should not be organized for the purpose—in whole or in part—of accessing reverse repo operations.
Announcements
Statement Regarding the Policy on Counterparties for Market Operations and Reverse Repurchase Counterparties
April 25, 2023
See all announcements.
Related New York Fed Content
FAQ on Reverse Repurchase Agreement Operations
Statements and Operating Policies on Repurchase and Reverse Repurchase Transactions
Market Intelligence
Related External Content
Treasury Market Practices Group
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