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MNI BRIEF: Fed's Williams Announces Effort On Reference Rates

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USCentral Bank NewsPolicy NewsHomepageFederal ReserveBriefStoryRegionNorth America

New York Fed President John Williams on Thursday announced a new committee of investors to support integrity, efficiency, and resiliency in the use of reference rates across financial markets, including the rates published by the New York Fed. The committee will begin meeting next month.

The Reference Rate Use Committee will focus on key issues regarding reference rates, including how their use is evolving and how the markets underpinning them may be changing too, Williams said in remarks made to a New York Fed conference on the Treasury market. "The RRUC will serve as an essential partnership that builds upon the work and accomplishments of the ARRC, by helping to preserve a robust system of reference rates," he added.

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New York Fed President John Williams on Thursday announced a new committee of investors to support integrity, efficiency, and resiliency in the use of reference rates across financial markets, including the rates published by the New York Fed. The committee will begin meeting next month.

The Reference Rate Use Committee will focus on key issues regarding reference rates, including how their use is evolving and how the markets underpinning them may be changing too, Williams said in remarks made to a New York Fed conference on the Treasury market. "The RRUC will serve as an essential partnership that builds upon the work and accomplishments of the ARRC, by helping to preserve a robust system of reference rates," he added.

Keep reading...Show less