The Federal Reserve Board is seeking public input on a new proposal related to the reporting of transactions involving U.S. Treasury securities and mortgage-backed securities by certain financial institutions. This proposed rule, known as FR 2956, aims to collect detailed daily transaction data from depository institutions that meet specific trading volume criteria. Comments from the public on this proposal are invited by March 22, 2021, and can be submitted through various methods including email and the Federal Reserve’s website. The Board plans to implement this new reporting requirement in 2021, under legal authority provided by the Federal Reserve Act.
Simple Explanation
The Federal Reserve Board wants to know what people think about a new plan to keep track of big money trades between banks, especially with U.S. government and home loan-backed money. They are asking people to share their thoughts by a certain date.