Law360, New York (July 19, 2012, 2:28 PM ET) -- The Federal Reserve Bank of New York on Wednesday pushed banks to lessen their reliance on the roughly $1.8 trillion triparty repo market, a major source of short-term funding for banks, in a bid to reduce risks to the financial system.
The triparty repo market is a way for securities dealers that don't receive regular customer deposits to take out short-term loans from money market funds as a way to get needed cash. Federal regulators told banks that use the market to boost their balance sheets...
NY Fed Wants Banks To Cut Back On Repo Trades
To view the full article, take a free trial now.
