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By Gillian Tett
Published: September 23 2010 18:05 | Last updated: September 23 2010 18:05
Four months ago, New York bankers issued a 43-page report on the tri-party repurchase, or "repo", market, which solemnly described some of the sector's shortcomings. The New York Federal Reserve then issued additional comments "“ and called for reform.*
Both reports almost immediately vanished from public view. They were not, for example, mentioned in all the US Congress summer debates. Indeed, the Dodd-Frank bill barely touches them at all. And, this month, as European and US regulators have marked the second anniversary of the collapse of Lehman Brothers by unveiling new financial reforms, the issue has barely cropped up at all.
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