US shadow-banking rule shows gutted agency OFR's importance for financial stability, Libor support

21 February 2019 10:46pm
A new federal shadow-banking rule that supports a Libor benchmark alternative shows that a tiny agency crippled by the Trump administration can still contribute to financial stability.

What’s not clear is how well the independent US Office of Financial Research will be able to collect and use repurchase agreement data with a depleted staff under an interim chief who doubles as a temporary US Treasury Department official.

This official, Kipp Kranbuhl, Treasury's acting assistant secretary for financial institutions, took over a few weeks ago from another interim chief who worked part-time at Treasury, an agency spokesperson said today.