Fed’s Tarullo laments delays in shadow-banking reform

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US Federal Reserve System board member Daniel Tarullo fears the momentum generated at the start of the global financial crisis to reform money-market funds and the tri-party repo market might "wane or be redirected" before those reforms can be completed.

Speaking to the Council on Foreign Relations in New York, Tarullo said that, while the 2010 Securities and Exchange Commission (SEC) reforms, including a requirement for greater liquidity buffers in money-market funds, were a "step in the right

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