The Fed Agrees?

San Francisco Federal Reserve CEO, Mary Daily, said (according to Reuters, I can not find the original speech/text the article is referencing):

“She raised a number of potential fixes, including creating a standing repurchase facility to backstop markets during times of stress, expanding trading platform access to more entities, and using central clearing for Treasury cash markets to “reduce the burden on broker-dealers and lessen the liquidity crunch in times of stress.”

These recommendations seems to be lifted right out of this paper.

It is great to see this conversation continuing in the public sector.

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