U.S. Regulators Inch Closer to Treasuries-Market Reforms
- Staff stop short of firm proposals in progress report
- Study of March 2020 pandemic-triggered chaos continues
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U.S. regulators moved closer to proposing fresh reforms to the market for Treasury securities as they continue to study the disruptions of March 2020 that were triggered by the onset of the Covid-19 pandemic.
A progress report released Monday by a panel of staff from the Treasury Department, Federal Reserve and other top regulators identified five areas of study. It showed continued interest in expanding central clearing, improving transparency around dealing activity and enhancing trading-venue oversight, among other themes. The report was prepared by the Inter-Agency Working Group for Treasury Market Surveillance, which gave no timeline for any eventual recommendations.