Fed proposals seek to shine light into money markets
The Federal Reserve yesterday published proposals that could force 155 of the US's largest banks to report data on a range of money-market instruments.
Under the proposals, a panel of banks would be expected to report data on federal funds, Eurodollar and certificate of deposit (CD) transactions on a daily basis, submitting data to the Federal Reserve Bank of New York, which monitors the markets. "In order to calculate timely effective rates, daily data are needed," the Fed said.
Although the
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