Tri-party repo taskforce to disband without delivering key reform

The New York Fed's concerns about intra-day credit should be tackled by JP Morgan, BNY Mellon and DTCC, an industry taskforce concludes

Tri-party reforms fall down

Market participants will explain why they have not been able to make key changes to the tri-party repo market in a report due later this month, setting up a showdown with the Federal Reserve Bank of New York, which has been pushing for reform. Bankers involved in the project had previously told Risk they feared a failure by the industry to radically overhaul the market could spur the New York Fed to intervene in a more aggressive way, forcing the market – the biggest single source of financing

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