NY Fed Updates Repo Counterparties
The Federal Reserve Bank of New York updated its list of "Reverse Repo Counterparties." The most recent additions and removals are: Capital Group Central Fund Series, Capital Group Central Cash Fund (added, effective 12/20/19); PNC Government Money Market Fund (removed, effective 11/18/19), Fidelity Hereford Street Trust: Fidelity Money Market Fund (added, effective 11/15/19). Under name changes the List of Reverse Counterparties writes, "Fidelity Investments Money Management, Inc. merged with and into Fidelity Management & Research Company. Fidelity Management & Research company changes its name to Fidelity management & Research Company LLC. Effective January 1, 2020." The NY Fed's "Revised List, Investment Manager Money Market Funds" now includes: AllianceBernstein: AB Fixed-Income Shares, Inc., AB Government Money Market Portfolio; BlackRock Liquidity Funds: FedFund, T-Fund, TempCash, TempFund, Master Treasury Strategies Institutional Portfolio, Master Premier Government Institutional Portfolio, Money Market Master Portfolio and Treasury Money Market Master Portfolio; BNY Mellon Investment Adviser: Dreyfus Cash Management, Dreyfus Government Cash Management, Dreyfus Institutional Preferred Government Money Market Fund, Dreyfus Treasury and Agency Liquidity Money Market Fund, Dreyfus Treasury Obligations Cash Management and General Money Market Fund; Capital Research and Management Company: American Funds U.S. Government Money Market Fund and Capital Group Central Fund Series, Capital Group Central Cash Fund; Charles Schwab Investment Management: Schwab Government Money Fund, Schwab Treasury Obligations Money Fund and Schwab Value Advantage Money Fund; Columbia Management Investment Advisers: Columbia Short-Term Cash Fund, a series of Columbia Funds Series Trust II; Deutsche Investment Management Americas: Government Cash Management Portfolio; Dimensional Fund Advisors LP: The DFA Short Term Investment Fund of The DFA Investment Trust Company; Federated Investment Management: Edward Jones Money Market Fund, Federated Capital Reserves Fund, Federated Government Obligations Fund, Federated Government Obligations Tax-Managed Fund, Federated Government Reserves Fund, Federated Institutional Money Market Management, Federated Prime Cash Obligations Fund, Federated Prime Obligations Fund, Federated Prime Value Obligations Fund, Federated Tax-Free Obligations Fund, Federated Treasury Obligations Fund and Federated U.S. Treasury Cash Reserves; Fidelity Management & Research Company: Fidelity Colchester Street Trust: Government Portfolio, Fidelity Colchester Street Trust: Money Market Portfolio, Fidelity Colchester Street Trust: Prime Money Market Portfolio, Fidelity Colchester Street Trust: Prime Reserves 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 and Fidelity Salem Street Trust: Fidelity Series Government Money Market Fund; Franklin Advisers: The Money Market Portfolio; Goldman Sachs Asset Management: Goldman Sachs Financial Square Government Fund, Goldman Sachs Financial Square Money Market Fund, Goldman Sachs Financial Square Prime Obligations Fund, Goldman Sachs Financial Square Treasury Obligations Fund, Goldman Sachs Financial Square Treasury Solutions Fund and Goldman Sachs Investor Tax-Exempt Money Market Fund; HSBC Global Asset Management (USA): HSBC U.S. Government Money Market Fund; Invesco Advisers: Premier Portfolio, a series of the AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust), STIT Government and Agency Portfolio, STIT Liquid Assets Portfolio and STIT Treasury Portfolio; J.P. Morgan Investment Management: JPMorgan Liquid Assets Money Market Fund, JPMorgan Prime Money Market Fund, JPMorgan Tax Free Money Market Fund, JPMorgan U.S. Government Money Market Fund and JPMorgan U.S. Treasury Plus Money Market Fund; Legg Mason Partners Fund Advisor: Western Asset/Government Portfolio and Western Asset/Liquid Reserves Portfolio; Morgan Stanley Investment Management: Morgan Stanley Institutional Liquidity Funds Government Portfolio, Morgan Stanley Institutional Liquidity Funds Government Securities Portfolio, Morgan Stanley Institutional Liquidity Funds Prime Portfolio and Morgan Stanley Institutional Liquidity Funds Treasury Portfolio; Northern Trust Investments: NTAM Treasury Assets Fund, Northern Funds - U.S. Government Money Market Fund, Northern, Institutional Funds - Government Portfolio, Northern Institutional Funds - Government Select Portfolio and Northern Institutional Funds - Treasury Portfolio; PFM Asset Management: PFM Funds Government Select Series; RBC Global Asset Management (U.S.): RBC Funds Trust, U.S. Government Money Market Fund; SSgA Funds Management: Institutional Liquid Reserve Portfolio, Institutional US Gov. Money Market Fund, a series of the State Street Master Funds, State Street Navigator Securities Lending Government Money Market Portfolio and State Street Treasury Plus Money Market Portfolio; T. Rowe Price Associates: T. Rowe Price Cash Reserves Fund, T. Rowe Price Government Money Fund, Inc., T. Rowe Price Government Reserve Fund and T. Rowe Price U.S. Treasury Money Fund; UBS Asset Management (Americas): Government Master Fund, Limited Purpose Cash Investment Fund, Prime Master Fund and Treasury Master Fund; U.S. Bancorp Asset Management: First American Government Obligations Fund and First American Treasury Obligations Fund; The Vanguard Group: Vanguard Federal Money Market Fund, Vanguard Market Liquidity Fund and Vanguard Prime Money Market Fund; Wells Fargo Funds Management: Wells Fargo Cash Investment Money Market Fund, Wells Fargo Government Money Market Fund, Wells Fargo Heritage Money Market Fund, Wells Fargo Money Market Fund and Wells Fargo Treasury Plus Money Market Fund and Wilmington Funds Management: Wilmington U.S. Government Money Market Fund. In other repo news, see also, The Wall Street Journal's "Fed Adds $56.72 Billion to Markets for Calm Start to 2020." The article tells us, "After navigating a quiet end to money-market trading in 2019—greased by a massive wave of central bank liquidity—the Federal Reserve Bank of New York injected a modest amount of money into financial markets on Thursday. In two separate operations, the New York Fed added $56.72 billion to financial markets via repurchase-agreement, or repo, operations.... The first day of trading for 2020 followed a calm end to last year."
