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Treasury Borrowing Advisory Committee
Committee Charge #2
February 4, 2014
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Committee Charge #2
The U.S. Primary Dealer debt distribution model: benefits and challenges
Treasury has used the Primary Dealer model for auctioning and distributing debt for several decades. This highly efficient system has been a key feature for the effective functioning of Treasury auctions. Given the evolution of the financial services industry, market structure, regulation and technology over recent years, does the current structure for distributing Treasury securities remain optimal? Are there any modifications that could result in a lower cost of funding for Treasury and/or enhance secondary market liquidity?
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Overview of the Primary Dealer System in the U.S.
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