Recent Developments in Treasury Market Liquidity and Funding Conditions

Remarks at the 8th Short-Term Funding Markets Conference, Federal Reserve Board, Washington, DC. Roberto Perli, Manager of the System Open Market Account, discusses recent developments in Treasury market liquidity, focusing on the market volatility seen in early April 2025. The speech emphasizes the importance of well-functioning Treasury cash and repo markets for effective monetary policy transmission and implementation. It also touches on the role of the Standing Repo Facility (SRF) in strengt