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Hearing highlights need to bolster Treasury market resilience, review dealer rules and leverage ratio
Summary
An unidentified speaker at a House Financial Services Committee hearing urged scrutiny of primary dealer capacity, the SEC's December 2023 central clearing rule and the supplementary leverage ratio to shore up the nearly $30 trillion U.S. Treasury market amid concerns about volatility, liquidity and rising federal debt.
An unidentified speaker at a House Financial Services Committee hearing said the nearly $30,000,000,000,000 U.S. Treasury market must be strengthened to preserve liquidity and stability for investors and taxpayers.
"With a market value of nearly $30,000,000,000,000, the US Treasury market plays a critical role in the global financial system," the speaker said, adding that the market is a benchmark for interest rates and a tool of monetary policy.
The speaker told the committee the government should examine the role of primary dealers — the largest intermediaries in the Treasury market — to ensure they have sufficient…
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