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Geithner-Led Group Faults Fed for Slow Work on Treasuries Market

June 30, 2022, 3:45 PM

A panel led by former Treasury Secretary Timothy Geithner leveled criticism at the Federal Reserve in a call for regulators to strengthen moves to address the risk of trading breakdowns in the $23 trillion US Treasuries market.

“The Treasury market is the most important financial market in the world,” Geithner said in a briefing Thursday on a report by the panel that updated a push for reforms issued last year. “The Treasury market has long since outgrown its regulatory framework.”

The working group -- under the aegis of the Group of 30, an independent association fronted by prominent former officials ...