[24060]
January 6, 2010
TO: MONEY MARKET FUNDS ADVISORY COMMITTEE No. 1-10MUNICIPAL SECURITIES ADVISORY COMMITTEE No. 1-10
SEC RULES MEMBERS No. 3-10 RE: SAVE THE DATE: TRI-PARTY REPO INFRASTRUCTURE REFORM WORKSHOP; FEBRUARY 3, 2010
The Tri-party Infrastructure Reform Task Force (“Task Force”) has announced a workshop on its current efforts to reduce risks in the rules, processes, and operations that support the tri-party repo market. The Federal Reserve Bank of New York, with support from the Institute, the Managed Funds Association, and the Securities Industry and Financial Markets Association, is hosting the workshop to bring together representatives from the broad range of stakeholders in the tri-party repo market and enable participates to learn about the Task Force’s ideas and preliminary proposals, and to contribute to the discussion of reforms. Task force members will present an overview of the tri-party repo market, discuss aspects of the infrastructure that create systemic risk, and discuss proposals to address those risks. As you know, the Task Force summarized its work in a progress report published on December 22, 2009. [1] A copy of the workshop announcement is attached.
The workshop will take place on the afternoon of Wednesday, February 3, 2010, at the Federal Reserve Bank of New York.
The workshop is open to representatives from firms that are direct participants in the tri-party repo market, including investors, securities dealers, clearing banks, and issuers of the securities used as repo collateral, and their regulators. More information concerning the workshop, including a sign up form, is scheduled to be available online during the week of January 11 at http://www.newyorkfed.org/prc/.
Jane G. Heinrichs
Senior Associate Counsel
endnotes
[1] The report is available at http://www.newyorkfed.org/prc/report_091222.pdf.