From Yahoo Finance: 2024-06-05 11:32:46

Michelle Neal, a senior official at the Federal Reserve Bank of New York, warns market participants to prepare for new clearing rules in the Treasury bond market. The Securities and Exchange Commission is mandating central clearing in the government bond market, with Treasury cash clearing required by the end of 2025 and repo clearing by June 30, 2026. These changes will lead to a significant migration of Treasury repo and reverse repo into central clearing, along with increased transparency and visibility into market monitoring. Neal emphasizes the need for market participants to engage now and develop plans for the upcoming changes.



Read more at Yahoo Finance: NY Fed official tells bond market to get ready for central clearing