In a "Statement to Revise Terms of Overnight Fixed-​Rate Reverse Repurchase Agreement Operational Exercise," the Federal Reserve Bank of New York says, "As noted in the September 20, 2013 Statement Regarding Overnight Fixed-​Rate Reverse Repurchase Agreement Operational Exercise, the Open Market Trading Desk (​the Desk) at the Federal Reserve Bank of New York has been conducting daily, overnight fixed-​rate reverse repo operations as part of an operational readiness exercise. Beginning with the operation to be conducted on Monday, November 4, the Desk will increase the fixed rate offered in these operations from two basis points to three basis points. All other terms of the exercise will remain the same. As an operational readiness exercise, this work is a matter of prudent advance planning by the Federal Reserve. These operations do not represent a change in the stance of monetary policy, and no inference should be drawn about the timing of any change in the stance of monetary policy in the future." See also, Statement Regarding Overnight Fixed-​Rate Reverse Repurchase Agreement Operational Exercise. In other news, Financial News writes "​Why it'​s make-​or-​break time for European fund body," which says, "New European Commission plans affecting money market funds (​mutual funds invested in short-​term, very liquid debt) have put the Institutional Money Market Fund Association into the spotlight."

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