NY Fed president calls for tri-party and money fund reform


The president of the New York Fed, William Dudley, on Friday told the New York Bankers Association's 2013 Annual Meeting & Economic Forum that progress must be made to reform the tri-party repo system and the US money market mutual fund business.

The speech also took in the larger issue of "the appropriate role of wholesale funding in the financial system". Dudley asked: "How comfortable should we be with a system in which critical financial activities continue to be financed with short-term

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