New York Fed welcomes fresh round of OTC targets

ny-federal-reserve

Fourteen major dealers have promised further improvements in the over-the-counter derivatives market in a letter sent yesterday to the Federal Reserve Bank of New York.

The letter follows a meeting at the New York Fed between market participants and international supervisors on January 14, and includes promises to improve standardisation and transparency across across credit, interest rates and equity derivatives. The dealers also promised to cut operational risk and strengthen processes

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