U.S. Treasury's Ryan Sees Increasing Failed Trades in Treasuries
Speaking to the Securities Industry and Financial Markets Association in Chicago on Thursday, U.S. Assistant Secretary for Financial Markets Anthony W. Ryan said failures in transactions of treasuries had increased over the last twelve months and called on investors to help prevent such events from occurring.
"By positively changing market practices, you will help strengthen market discipline, mitigate systemic risk, restore investor confidence, and facilitate stable economic growth," he said in his closing reamrks.
"The health of our capital markets reflects the collective efforts of both the public and private sectors. To reap the benefits, both sectors must share responsibility and be actively engaged.," he added.
Although the U.S. financial system is sound and the infrastructure resilient when faced with the recent developments in financial markets, he called for a change of behaviour and better management of financial practices.
By Erik Kevin Franco and edited by Nancy Girgis