Mnuchin Open to Looser Rules Backed by Dimon to Ease Repo Stress

U.S. Treasury Secretary Steven Mnuchin is open to loosening financial crisis-era regulations that have stiffened liquidity rules for big banks to relieve possible cash crunches in short-term funding markets.

Mnuchin said in an interview Tuesday that he had spoken to Jamie Dimon, chief executive of JPMorgan Chase & Co., and other banks about how to avoid liquidity problems.

“The banks have raised an issue around intra-day liquidity, and that is something that makes sense for regulators to look at,” Mnuchin said in Tel Aviv, his first stop during an 11-day trip through the Middle East and India.

Steven Mnuchin speaks to members of the media outside the White House on Oct. 14, 2019.

Photographer: Andrew Harrer/Bloomberg

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