[Dealers Reject New York Fed Loan Facility Proposal, Repo Market Pressure Eases Slowly] On November 19, dealers rejected the New York Fed's proposal to use a loan facility to ease market tensions. Bond dealers resisted Federal Reserve officials' push to utilize the Standing Repo Facility (SRF), impacting the Fed's efforts to alleviate pressure in the $12 trillion repo market. According to informed sources, dealers believe that borrowing directly from the central bank carries a stigma risk and could be perceived as a signal of trouble. Additionally, operational and balance sheet constraints have made it more challenging to use this facility.