People: New York Fed appoints new Soma manager
New York: The Federal Reserve Bank of New York has appointed Roberto Perli as new manager of the System Open Market Account (Soma). The bank also named Julie Remache as Soma’s deputy director. Both will assume office on February 21.
Soma is the primary vehicle for Fed open-market operations and monetary policy implementation. The account held more than $7.9 trillion as of February 1, about two-thirds of which are US Treasuries. It is also home to the central bank’s holdings of foreign exchange
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