R. Seelaus & Co., LLC Selected by the Federal Reserve Bank of NY to Participate in Commercial Paper Funding Facility and Secondary Market Corporate Credit Facility
September 9, 2020 – [Chatham, N.J.] – R. Seelaus & Co., LLC, a wholly-owned subsidiary of R. Seelaus & Co., Inc. and an SEC/FINRA-registered broker/dealer and Women-Owned Business Enterprise is pleased to announce that the Federal Reserve Bank of New York (FRBNY) has selected R. Seelaus to be a Dealer for its Commercial Paper Funding Facility (CPFF) and an Eligible Seller for its Secondary Market Corporate Credit Facility (SMCCF).
In March 2020, the New York Fed announced the establishment of the CPFF to support the flow of credit to households and businesses. By ensuring the smooth functioning of this market, particularly in times of strain, the New York Fed is providing credit that will support families, businesses and jobs across the country.
The SMCCF was established to support credit to large employers by providing liquidity for outstanding corporate bonds. The SMCCF purchases eligible corporate bonds in the secondary markets. These corporate bonds must meet the eligibility criteria specified in the SMCCF term sheet.
R. Seelaus is now part of an expanded cohort of counterparties and agents that will increase the New York Fed’s operation capacity and understanding of these markets and extend the access and reach of the CPFF and SMCCF initiatives.
According to CEO Annie Seelaus, “We are thrilled to be selected by the Federal Reserve Bank of New York to participate in these programs and to use our robust platform to aid market liquidity. As a Women-Owned firm we applaud the New York Fed for their thoughtful inclusion of Diversity firms which we believe will only make the program more successful.”
About R. Seelaus & Co., Inc.
R. Seelaus & Co., Inc. was founded in 1984 by Richard Seelaus. The firm was originally a municipal bond dealer conducting business with the major trust banks of New York and Chicago. In the over three decades since opening for business, the firm became a certified women’s business enterprise (WBE) and has grown into a full-service financial firm. R. Seelaus & Co., Inc. and its subsidiaries offers such services as investment advisory, asset management, capital markets, brokerage, fixed income and equity trading, institutional sales, and insurance services. The R. Seelaus & Co., LLC subsidiary is a broker-dealer registered with the SEC and member of FINRA and Seelaus Asset Management, LLC, is an SEC Registered Investment Advisor (RIA). With various fixed income trading desks and more than sixty professionals, both entities serve individuals, families, public and private companies, non-profit organizations, and institutional investors. The firm has offices in New Jersey, Connecticut, Florida, Illinois and Massachusetts. For more information about R. Seelaus & Co., visit http://www.rseelaus.com.