Federal Reserve Leads Working Group Drafting Wholesale Market Guidelines

REGULATIONS

The Federal Reserve Bank of New York is collecting market comment on a draft of principles and practices for wholesale financial market transactions. The latest draft went out to market participants in April and comments are due in at the end of next week.

The guidelines were begun last June by six drafting committees, including representatives of the Emerging Markets Traders Association, the Foreign Exchange Committee of the Federal Reserve Bank of New York, the International Swaps and Deriv