Search ForexCrunch

San Francisco Federal Reserve Bank President Mary Daly said on Thursday that more  work was needed to ensure financial infrastructure remains sound and stable, as reported by Reuters.

Additional takeaways

“Increase in public and private debt leads to vulnerabilities in the financial system.”

“We should study benefits, costs of reconsidering inclusion of reserves, treasuries in leverage-ratio requirements.”

“We need a careful study of possible treasury market reforms, including standing repo facility.”

“We could use central clearing for treasury cash markets to lessen liquidity crunch during crises.”

“Low rates over time lead financial firms to reach for yield.”

“It’s critical  to shoring up stability of hedge funds, money market funds.”

Market reaction

The US Dollar ındex largely ignored these comments and was last seen posting small gains at 91.67.