Fed's Dudley: could decide at 'future date' on repo facility

PHILADELPHIA Sat Jan 4, 2014 12:11pm EST

PHILADELPHIA Jan 4 (Reuters) - The head of the Federal Reserve Bank of New York said on Saturday the U.S. central bank could decide "at a future date" to fully implement a proposed new policy tool known as a fixed-rate full-allotment reverse repo facility.

The facility has been in test mode since September and is set to last until the end of January. The Fed's policy-setting Federal Open Market Committee would have to decide to adopt it formally.