NatWest Exits New York Fed's List of Primary Dealers

On October 16, the list of primary dealers published by the Federal Reserve Bank of New York showed that NatWest Markets Securities Inc. has been removed from the list, with the adjustment taking effect from that day. Primary dealers are counterparties of the New York Fed in implementing monetary policy; they must consistently participate in open market operations, provide market information and analysis, take part in U.S. Treasury auctions, and offer reasonable market quotes when the New York Fed trades on behalf of foreign official accounts. Following this adjustment, the list still includes institutions such as JPMorgan Chase, Citigroup, Goldman Sachs, Morgan Stanley, Bank of America, and Deutsche Bank.