The Federal Reserve Board on Wednesday invited public comment on a technical notice of review regarding primary dealers operating in Spain.
Specifically, a bank owned by a Spanish parent company intends to acquire a domestic primary dealer. A primary dealer is a securities broker‑dealer or other entity that has been approved to be a trading counterparty with the Federal Reserve Bank of New York. As a result, the Federal Reserve is required by law to make a specific determination about the respective competitive opportunities in the Spanish and American public debt markets.
Comments must be received within 30 days of the notice’s publication in the Federal Register.
This news item was originally published by the Federal Reserve Board (FRB US). For more information, please see the Source Link.