The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Sifma’s Ryan Urges US Treasury to Focus on Price Transparency for Tarp

Originally appeared in MiFID Monitor

Tim Ryan, president and CEO of the Securities Industry and Financial Markets Association (Sifma), has called for the US Treasury to focus on the creation of price discovery through some type of transparent purchase programme as part of the Troubled Asset Relief Program (Tarp). Following last week’s discussions with US Treasury secretary Henry Paulson concerning Tarp, Ryan praised the government’s efforts but warned that the asset purchase section of the programme should not be ignored.

Ryan said: “I am disappointed Treasury is choosing to de-emphasize the asset purchase portion of the Tarp programme. Based on my experience with the Resolution Trust Corporation, I believe a key ingredient to a strong recovery is the creation of price discovery through some type of transparent purchase programme. Until we have a functioning marketplace – where buyers and sellers agree on prices and institutions can subsequently judge the value of the assets they hold – uncertainty could keep many financial players on the sidelines, restricting lending capital for the larger economy. Treasury is uniquely positioned to bring these buyers and sellers together.”

He added the hope that the incoming Obama administration may take heed of his warning: “Understandably, Treasury has both limited time and resources and must make hard choices. But as we move forward, and in planning for the next administration, we hope there will be further opportunities to comprehensively revisit this important programme.”

Related content

WEBINAR

Recorded Webinar: A new way of collaborating with data

Digital transformation in the financial services sector has raised many questions around data, including the cost and volume of reference data required by each financial institution. Firms want to pick and choose the reference data they need to fulfil their requirements. Emerging solutions with the potential to decrease the cost of data and increase flexibility...

BLOG

DTCC Data Services Aggregates Back-Office Data to Provide Front-Office Market Insight

DTCC Data Services is tapping the vast quantities of post-trade data that flow through DTCC on a daily basis to deliver back-office data to front-office data products offering market insight into areas such as liquidity, risk, momentum, sentiment and correlation. Early users of the historical data products include hedge funds and quant traders looking for...

EVENT

RegTech Summit New York City

Now in its 5th year, the RegTech Summit in NYC explores how the North American financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Preparing For Primetime – How to Benefit from the Global LEI

They say time flies when you’re enjoying yourself, and so it seems the industry have been having a blast with its preparations for the introduction of the global legal entity identifier (LEI) next month. But now it’s time to get serious. To date, much of the industry debate has centred on the identifier itself: its...