Rather, I am suggesting that now is a good time for market participants and regulators to collectively consider whether current market structures can be improved for the benefit of all. Questions about market structure also arise in the funding markets for Treasuries.
As many have noted, there is a link between funding liquidity and market liquidity, and for Treasury markets the links to funding in the repo market are especially close. 11 Post crisis reforms have made the repo market safer but also raised the costs of repo transactions.