New York Fed Statement On MF Global, Or How 22 Primary Dealers Became 21 Primary Dealers
Statement Regarding MF Global Inc.
The Federal Reserve Bank of New York has informed MF Global Inc. that it has been suspended from conducting new business with the New York Fed. This suspension will continue until MF Global establishes, to the satisfaction of the New York Fed, that MF Global is fully capable of discharging the responsibilities set out in the New York Fed’s policy, “Administration of Relationships with Primary Dealers,” or until the New York Fed decides to terminate MF Global’s status as a primary dealer.
The New York Fed’s policies relating to its primary dealers may be found online at http://www.newyorkfed.org/markets/primarydealers.html