() – The Federal Reserve Bank of New York on Thursday said it will add an extra operation of its standing repo facility in the days covering the end of the calendar year into early January.

In addition to its daily SRF (NS:) operation occurring between 1:30 p.m. and 1:45 p.m., the New York Fed will offer an operation between 8:15 a.m. and 8:30 a.m. each day beginning Dec. 30 through Jan. 3, 2025, it said in a statement. The aggregate operation limit of $500 billion will apply to the combined daily operations.

“These additional morning operations are intended to be technical exercises for the purpose of increasing the Federal Reserve’s understanding of how SRF operation times can support effective policy implementation and market functioning during periods of expected money market pressures,” the New York Fed said.