Board of Governors of the Federal Reserve System ("FRB") Governor Jerome H. Powell discussed volatility in the Treasury markets and emerging considerations that would provide greater or more stable liquidity. At the 2015 Roundtable on Treasury Markets and Debt Management, Mr. Powell addressed the October 15, 2014 episode of "sudden, outsized volatility" in the Treasury markets. He pointed out that further episodes could cause more market participants to react in ways that reduce liquidity, and add to pressures for changes in market structure. Mr. Powell explained that his preference would be
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The Board of Governors of the Federal Reserve System (FRB) approval of a final rule specifying its procedures for emergency lending under Federal Reserve Act Section 13(3) (Discounts for Individuals, Partnerships and Corporations). The FRB action was published in the Federal Register. The final rule is effective on January 1, 2016.
The Office of Financial Research published quantitative information on bilateral repurchase agreement activities in the U.S. securities financing market.
An Office of Financial Research working paper examined how risk-taking in the repurchase agreement market changed following the introduction of the Basel III supplementary leverage ratio regulation.
The Basel Committee on Banking Supervision updated Basel III Net Stable Funding Ratio framework interpretation FAQs.