Short-term funding risks persist, warns N.Y. Fed

05/8/2013 | Wall Street Journal, The

The Federal Reserve Bank of New York warned that the "tri-party repo" market could still be destabilized by runs on the market that could threaten the general financial system. "Limited tools are available to mitigate the risk of pre-default fire sales," and that "no established tools currently exist to mitigate the risk of post-default sales," according to a paper released by the New York Fed.

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