U.S. Takes Step Toward Increasing Oversight of Treasury Market
- Government issues request for comment on evolution of trading
- Executives argue post-crisis regulations have hurt liquidity
The Treasury put together the document with the other agencies that regulate Treasury markets: The Federal Reserve, New York Fed, Securities and Exchange Commission and Commodity Futures Trading Commission.
Photographer: Joshua Roberts/Bloomberg via Getty ImagesThis article is for subscribers only.
The U.S. is taking a step toward increasing oversight of Treasuries in response to complaints from both traders and government officials that the market is too opaque.
The Treasury Department on Tuesday asked for input on how the market has changed and what should be done so that it can operate more smoothly. Regulators want to prevent the kind of sudden price swings that occurred on Oct. 15, 2014, when yields fluctuated in a way that had only happened three other times since 1998.