TITLE

Banks Say Upgrade Repo Clearing, Don't Centralize It

AUTHOR(S)
Kite, Shane
PUB. DATE
July 2009
SOURCE
Securities Industry News;7/6/2009, Vol. 21 Issue 15, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that U.S. bank executives prefer the voluntary adoption of tougher margin requirements in the repurchase or "repo" market over a central clearing utility for the short-term financing industry, as proposed by regulators. The U.S. Federal Reserve has reportedly been studying ways to strengthen the overnight financing industry and considered a central clearing for repos that would replace use of Bank of New York Mellon and J. P. Morgan Chase. In return for more collateral, the banks want more guarantee for their credit agreements.
ACCESSION #
43249546

 

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