A private-sector task force, charged by the Federal Reserve Bank of New York, issued a progress report on its proposals to improve the triparty-repurchase system. Robert Toomey, managing director of the rates division at SIFMA, praised the task force's progress. "The task force has made significant progress in identifying areas for risk mitigation in the infrastructure of the triparty-repo market," Toomey said. "SIFMA will continue to work with the task force and with our broader membership to review and implement the recommendations as they develop further." Read SIFMA's news release.
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