Tri-party reforms get mixed review from NY Fed

ny-federal-reserve

The Federal Reserve Bank of New York has criticised the final report of an industry task force on the tri-party repo market for not going far enough towards reform.

The New York Fed's industry-led Payments Risk Committee set up the task force in order to address concerns that the tri-party repo market could transmit systemic risk throughout the financial system. The group has been eyeing improvements to the market since September 2009, with a focus on operational improvements designed to reduce