Revised sanctions guidance. The Department of the Treasury’s Office of Foreign Assets Control revised its guidance regarding entities owned 50 percent or more in the aggregate by more than one blocked person. (8/13/2014) OFAC notice.
New York Fed mortgage operations counterparty pilot. The Federal Reserve Bank of New York will conduct a pilot program for certain smaller firms to act as counterparties in agency mortgage-backed securities operations conducted for the System Open Market Account portfolio. The pilot will explore ways to broaden access to open market operations and improve operational capacity and resiliency. (8/5/2014) New York Fed notice.