Fed's Perli encourages firms' use of Standing Repo Facility
NEW YORK (Reuters) -A Federal Reserve Bank of New York official responsible for implementing monetary policy said on Thursday the central bank is encouraging usage of a key liquidity tool that thus far has been largely dormant. When it comes to the Standing Repo Facility, or SRF, "I encourage our counterparties to use the SRF when it makes economic sense - the facility is there to support the effective implementation of monetary policy and smooth market functioning," said Roberto Perli, who manages the central bank’s System Open Market Account, in the text of a speech prepared for delivery at a conference held by his bank. "It's in everyone’s best interest if the SRF works as intended," Perli said.
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