Bankers Propose Bigger Role for Treasury Managing Dealer System
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Wall Street bankers are asking the U.S. Treasury Department to get more involved in selecting and monitoring the 21 primary dealers that bid at government debt auctions and serve as counterparties to the Federal Reserve.
The Treasury should periodically disclose performance evaluation of the dealers, as publicized rankings will help foster competition among the banks and securities companies, according to a presentation at a meeting yesterday of the Treasury Borrowing Advisory Committee, known as TBAC.