US House is told that repo markets are in trouble; NSFR should be dumped; regs should be overhauled

In what might seem like preaching to the choir, the US House of Representative held a hearing last week entitled “The Impact of Regulations on Short-Term Financing.” The Republican controlled House heard from speaker after speaker noting that regulations have gone too far and that the assumption of US markets as deep and liquid has been imperiled. There was one voice supporting more regulation, but you can almost hear the exasperation from everyone else.

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