WASHINGTON– The Inter-Agency Working Group on Treasury Market Surveillance (IAWG)—which is composed of staff from the U.S. Department of the Treasury, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, the U.S. Securities and Exchange Commission, and the U.S. Commodity Futures Trading Commission—today issued a staff progress report to provide an update on a wide range of significant steps its members have taken to enhance the resilience of the U.S. Treasury market. The IAWG members have, among other steps:
These steps build on the initial work described in the IAWG’s 2021 Staff Progress Report, which assessed the causes of recent market stress events, set forth six guiding principles for public policy in the Treasury market, outlined policies under consideration, and reviewed the effects of steps that had already been taken, particularly the Federal Reserve’s establishment of standing repurchase agreement facilities. On November 16, 2022, the IAWG will convene its eighth annual U.S. Treasury Market Conference to further discuss recent developments and proposals to improve Treasury market resilience.
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