Release of Joint Staff Report on October 15, 2014

SEC Joint Press Release

Washington D.C., July 13, 2015 — Staff from the U.S. Department of Treasury, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, the U.S. Securities and Exchange Commission, and the U.S. Commodity Futures Trading Commission today issued a joint report analyzing the significant volatility in the U.S. Treasury market on October 15, 2014. Using non-public data from the U.S. Treasury cash and futures markets, the joint report provides detailed analysis of the market conditions and record trading volumes that day, including an unusually rapid round trip in prices and deterioration in liquidity during a narrow window.

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