Fed’s Dudley: liquidity warnings a ploy to weaken regulation
“Most arbitrage trading has simply ceased,” while Treasury market depth has dropped from $500 million to $130 million, bankers say
Opponents of tougher bank regulation are propagating a straw man argument over deteriorating market liquidity, the president of the Federal Reserve Bank of New York said yesterday.
"Some opponents of tougher bank regulation claim that the increased regulatory requirements, such as the higher capital requirements and new liquidity standards, that have been imposed on large financial institutions have reduced these firms' market-making capacity. As a result, so the argument goes, this is leading
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