US regulator joins treasuries market probe

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A New York regulator has joined a federal probe of banks that serve as primary dealers in the $12.8tril U.S. Treasuries market in an effort to determine whether traders colluded.

Bloomberg News reports that New York’s Department of Financial Services sent letters last month to the banks it regulates that act as counterparties for the Federal Reserve Bank of New York, asking for information about how they operate in that market, according to a person briefed on the matter.

Of the 22 primary dealers, nine are regulated by DFS: Bank of Nova Scotia, BMO Capital Markets, BNP Paribas Securities, Barclays Capital, Credit Suisse Securities, Deutsche Bank Securities, Goldman Sachs, Mizuho Securities USA, and SG Americas Securities.

To access the complete Bloomberg News article hit the link below:

N.Y. Banking Regulator Joins Probe of U.S. Treasuries Trading

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