Finanse publiczne · 18/12/1995

Government Securities Act Regulations: Large Position Rules

The Department of the Treasury (``Department'' or ``Treasury'') is publishing for comment proposed rules that would establish a new Part 420 providing recordkeeping and reporting requirements pertaining to large positions in certain Treasury securities. The proposed regulations are being issued pursuant to the Government Securities Act Amendments of 1993, which authorized the Secretary of the Treasury to prescribe rules requiring persons holding, maintaining or controlling large positions in to-be-issued or recently- issued Treasury securities to keep records and file reports of such large positions. The proposed recordkeeping rules require any person or entity that controls a position equal to or greater than $2 billion in a Treasury security to maintain and preserve certain records that enable the entity to record, compile, aggregate and report large position information. The proposed reporting rules require entities to file a large position report with the Federal Reserve Bank of New York if their reportable position equals or exceeds the large position threshold in a particular Treasury security as specified by the Treasury in a notice requesting large position information. The