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Cryptopolitan
2023-04-26 07:14:30

Circle’s access to NY Fed’s reserve repurchase program at risk due to new rules

Circle’s access to NY Fed’s reserve repurchase program at risk due to new rules

The Federal Reserve Bank of New York (NY Fed) has recently made changes to its counterparty criteria for its reverse repurchase program (RRP), which could potentially prevent Circle, a stablecoin issuer, from accessing the sought-after facility. According to a NY Fed press release, funds registered as “2a-7 funds” with the Securities and Exchange Commission (SEC) … Circle’s access to NY Fed’s reserve repurchase program at risk due to new rules Read More »

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