The Federal Reserve Bank of New York issued a "Statement Regarding Reverse Repurchase Transaction Counterparties," which says, "The New York Fed is making the following adjustments to the reverse repurchase (​RRP) counterparty eligibility criteria: For SEC registered 2a-​7 funds, the existing requirement to have, for the past six months, either net assets of at least $​5 billion or an average outstanding amount of RRP transactions of at least $​1 billion is reduced to $​2 billion and $​500 million, respectively. For government sponsored enterprises, the existing requirement to have either an average daily outstanding amount of RRP transactions of no less than $​1 billion for the past three months, or an average daily amount outstanding of overnight money market transactions of no less than $​100 million over the past three months, is removed. These changes are designed to make the ON RRP facility more accessible, in line with the New York Fed'​s efforts to ensure that its counterparty policies support effective policy implementation and promote a fair and competitive marketplace. The New York Fed will consider further adjustments of the 2a-​7 fund eligibility requirements over time as appropriate. All other eligibility criteria and expectations remain the same."

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