- Fed's governor Brainard: Stress that emerged in Treasury markets may suggest need for standing repo or other changes
Market news
1 March 2021
Fed's governor Brainard: Stress that emerged in Treasury markets may suggest need for standing repo or other changes
- Pandemic showed flaws in financial system
- Outflows from money market funds, in particular, showed ideas like swing pricing, minimum deposits, may be needed to stop redemption runs from developing
- Overall result showed system was resilient, proved the value of things like central clearing
- We need to consider reforms to protect against future shocks
- Central clearing platforms could still review margin rules, other requirements, to see what could be improved
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