Rules and enhancements proposed to strengthen Treasury market.
The Inter-Agency Working Group on Treasury Market Surveillance (IAWG) issued its staff progress report this month, outlining ways they have moved to improve the Treasury’s market resilience. The group includes staff from the Treasury Department, the Securities and Exchange Commission, the Commodity Futures Trading Commission, and Federal Reserve Bank. In the past year, the IAWG has proposed rules to improve oversight of Treasury transactions, begun tracking repurchase agreements, and has collected feedback to improve the market’s public transparency.
“These steps build on the initial work described in the IAWG’s 2021 Staff Progress Report, which assessed the causes of recent market stress events, set forth six guiding principles for public policy in the Treasury market, outlined policies under consideration, and reviewed the effects of steps that had already been taken, particularly the Federal Reserve’s establishment of standing repurchase agreement facilities,” the Treasury Department stated.
As the Lord Leads, Pray with Us…
- For Secretary Yellen as she evaluates the results of the report.
- For Treasury Department officials as they implement the improvements outlined by the IAWG.
- For members of the IAWG as they continue to review and track Treasury market resilience.
Sources: Department of Treasury
