The U.S. Treasury market is the deepest and most liquid government securities market in the world. It plays a critical and unique role in the global economy, serving as the primary means of financing the U.S. federal government, a significant investment instrument and hedging vehicle for global investors, a risk-free benchmark for other financial instruments, and an important market for the Federal Reserve’s implementation of monetary policy.
Since 2015, the U.S. Department of the Treasury, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, the U.S. Securities and Exchange Commission, and the U.S. Commodity Futures Trading Commission (Joint Member Agencies) have co-hosted an annual conference to examine ongoing developments in the U.S. Treasury market.
The Joint Member Agencies convened the fifth annual conference on Monday, September 23, 2019, at the Federal Reserve Bank of New York. This year’s topics included TRACE for Treasuries, the evolution of direct streaming and implications for market structure, potential risks and risk management strategies, and Treasury debt issuance plans, including considerations for a potential Treasury SOFR FRN.
The keynote addresses and expert panels included representatives from both the public and private sectors. Featured speakers at this year's conference included:
- John C. Williams, President and CEO, Federal Reserve Bank of New York
- The Honorable Heath P. Tarbert, Chairman, U.S. Commodity Futures Trading Commission
- The Honorable Elad L. Roisman, Commissioner, U.S. Securities and Exchange Commission
- The Honorable Justin Muzinich, Deputy Secretary of the Treasury, U.S. Department of the Treasury
Sponsors
U.S. Department of the Treasury
Board of Governors of the Federal Reserve System
Federal Reserve Bank of New York
U.S. Securities and Exchange Commission
U.S. Commodity Futures Trading Commission
Information from the Joint Member Agencies’ past Treasury Market conferences is available on the Federal Reserve Bank of New York’s website: 2015, 2016, 2017, and 2018.
September 23, 2019
8:30 a.m. EDT
Federal Reserve Bank of New York
33 Liberty Street
New York, NY
The event was available 15 minutes prior to the start time via webcast.
Attendance was by invitation only. This event was available via webcast.
John C. Williams
President and CEO, Federal Reserve Bank of New York
The Honorable Justin Muzinich
Deputy Secretary, U.S. Department of the Treasury
The Honorable Elad L. Roisman
Commissioner, U.S. Securities and Exchange Commission
Media
This event was open to the media and on the record, though space was limited. For media inquiries, please contact Brian Manning at the New York Fed, brian.manning@ny.frb.org or (212) 720-6143.
