"Status quo is unacceptable" for repo market, Dudley says

02/4/2013 | Wall Street Journal, The

Problems in the repurchase market have not been solved, says William Dudley, president of the Federal Reserve Bank of New York. "We have not come close to fixing all the institutional flaws in our wholesale-funding markets," Dudley said while suggesting several changes, including limiting the market to securities that the Fed accepts and letting money market funds use a net-asset-value float as opposed to a fixed rate.

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Wall Street Journal, The

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