The US Federal Reserve is considering big changes to the giant repurchase – or repo – markets where banks raise overnight dollar loans. The plans include the creation of a mechanism to replace the clearing banks that handle transactions – the biggest of which are JPMorgan Chase and Bank of New York Mellon -  serving as intermediaries between borrowers and lenders. Fed officials plan to meet next month with market participants to discuss reforms.

This entry was posted by Gwen Robinson on Monday, June 22nd, 2009 at 5:02 and is filed under Capital markets. Tagged with BNY Mellon, jpmorgan. Edit this entry.