The Federal Reserve Bank of New York has appointed MF Global Holdings as a primary dealer. The Fed has also named Societe Generale Corporate & Investment Banking as the primary dealer for the U.S. Treasury bond market, adds The Wall Street Journal.
The two lenders will join a group of financial institutions that will work directly with the U.S. government to help manage monetary policy and sell U.S. debt. Goldman Sachs, Barclays, HSBC Holdings, Morgan Stanley, JP Morgan Chase and BNP Paribas are among the other primary dealers.
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