The SEC, under the leadership of Chairman Atkins, has been responsive to industry comments and proposals to make sure the transition to mandatory clearing causes no disruptions in the Treasury market.
Congress must help ensure the transition to mandatory Treasury clearing causes no disruptions in the Treasury market.
Occurrences
Evidence
The article says the Treasury market is showing renewed fragility and notes that regulatory changes such as the SEC's move toward mandatory central clearing could improve stability, while warning that the market remains vulnerable to shocks.
Assessments
The available evidence does not show Frank D. Lucas or Congress successfully ensuring a disruption-free transition to mandatory Treasury clearing. Reporting instead says the Treasury market remains fragile and vulnerable, with no concrete congressional action documented in the lookback window. That is insufficient to mark the promise as delivered or as a failed but serious attempt.