New York Fed begins search for vendor roles on emergency facilities

The Federal Reserve Bank of New York is pictured in the Manhattan borough of New York City, New York, U.S., October 4, 2019. REUTERS/Carlo Allegri

(Reuters) - The Federal Reserve Bank of New York said Monday it will begin a competitive search process for key vendor roles across several of the emergency lending facilities launched in response to market volatility caused by the pandemic.

The New York Fed will start by seeking vendors to manage the reinvestment of cash flows generated by the Secondary Market Corporate Credit Facility and the Primary Market Corporate Credit Facility. Similar processes will launch over the coming months for other investment management roles across the emergency facilities. Read more on the New York Fed's website here.

Reporting by Jonnelle Marte