Warren asked that Mnuchin respond to these and other questions no later than Nov. 1:

  • What are the underlying causes of the spike in borrowing rates for overnight repurchase agreements?
  • Has FSOC learned why the Fed announced on Oct. 11 that overnight operations meant to keep the calm would be extended at least through January of next year?
  • How will FSOC and Treasury use data on centrally cleared repo transactions to gain a further understanding of the market? Is further information needed to sufficiently monitor the short-term lending market?

This article provided by Bloomberg News.

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