BRIEF-NY Fed Statement Regarding Repurchase Agreement Small Value Exercise

* NY FED'S STATEMENT REGARDING REPURCHASE AGREEMENT SMALL VALUE EXERCISE

* NY FED- DESK INTENDS TO CONDUCT SMALL VALUE OVERNIGHT REPO OPERATION WITH PRIMARY DEALERS AND STANDING REPO FACILITY COUNTERPARTIES * NY FED - BID SUBMISSION PROCESS WILL BE CONDUCTED FROM 10:30 AM ET TO 10:45 AM ET ON THURSDAY, SEPTEMBER 8, 2022

* NY FED SAYS MAXIMUM VALUE OF OPERATION WILL BE $100 MILLION