FRB Study: Central Clearing Not Clearly Necessary for Repo Stability
A new Federal Reserve staff paper looks at a question now under active policy review: the stability of the U.S. Treasury-repo market. Although Chairman Powell called for central clearing in 2015, he raised doubts about it when reviewing solutions to Treasury-market instability.

FHFA Does its Best to End the GSEs’ TBTF Status
FHFA today announced that it released its final resolution rule for Fannie Mae and Freddie Mac although the agency so far has issued only a fact sheet. Based on a sweeping proposal, the final rule is also modelled on the resolution plans required of large banking organizations.

Powell: Fed Tackling Racial Discrimination with Robust Supervision
Reflecting pending Congressional efforts to demand a racial-equity mandate for the Fed, FRB Chair Powell today underscored the importance of robust Fed supervision in addressing racial discrimination.

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