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Powell: Central Clearing Of Tsys "Something We're Looking At"

FED

Sen Lummis asks Powell whether the US needs a central counterparty for the clearing of Treasuries: Powell says such an approach "certainly has benefits, and I've been a fan of central clearing in other parts of the economy", "it's something we're looking at ... I don't know it'll wind up being part of the solution but it's certainly worth looking into".

  • Echoes previous Fed comments, incl VC Quarles last year saying they've looked at central clearing in order to alleviate pressure on dealer balance sheets which can present problems during times of duress (like in the March 2020 episode).
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