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Tri-party repo task force releases final report
16 February 2012
The task force has concluded that it will take many years to eliminate intraday credit issues associated with the settlement of tri-party repo transactions
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The Tri-Party Repo Infrastructure Reform Task Force
New York Federal Reserve
The Tri-Party Repo Infrastructure Reform Task Force has issued a final report describing the status of industry efforts to reform the tri-party repo market.
The report describes a desired “target state” for tri-party repo that updates the recommendations made by the task force in its May 17 2010 report.
However, the task force concluded that further work was necessary to facilitate the full achievement of the task force’s most key recommendation: the practical elimination of intraday credit associated with the settlement of tri-party repo transactions.
The task force said in a statement that will take “a multi-year project” to achieve this aim, which is longer than the task force initially anticipated.
In the meantime, the task force reiterates that BNY Mellon and JPMorganChase – the clearing...
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