Tarullo: few signs of illiquidity in OTC markets

Fed governor says markets are in transition

Tarullo wants to see more evidence of liquidity problems before taking action

A top Federal Reserve official has dismissed claims that liquidity is evaporating in over-the-counter derivatives markets.

Daniel Tarullo, a member of the Board of Governors of the Federal Reserve System, said he does not see a problem with illiquidity in swaps and fixed-income markets.

"You don't see much evidence in spreads of big changes or illiquidity," Tarullo said at an Institute of International Finance conference in New York earlier today (June 4).

However, Tarullo did acknowledge that

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