Treasury officials say they’re considering ways to sustain trading in the $3.8 trillion-a-day repurchase agreement market as the Obama administration plans a regulatory overhaul that may change how banks fund operations.
“We are dedicated to doing this in a way that does not disrupt market functioning,” said Lee Sachs, a counselor to Treasury Secretary Timothy Geithner and an architect of the administration’s financial industry agenda, in an interview.
Full story: Treasury Pledges to Protect Repos as Obama Plan Sparks Concern Bloomberg via BusinessWeek