Fed Wants Daily Money Market Reports From Banks

Law360, New York (June 25, 2013, 12:19 PM EDT) -- The Federal Reserve on Tuesday proposed requiring the largest banks in the U.S. to provide a daily report of their money market transactions in a bid to increase its data collection on the overnight lending market.

Under the proposal, banks would be required to provide a daily report of their transactions in federal funds, Eurodollar trades and certificates of deposits to the Federal Reserve so that the central bank can monitor money market conditions. Eurodollars are cash that U.S. banks and the American branches of foreign...
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