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Two federations The Preparatory System President will sell or sell securities in the light of strict new restrictions on policy makers' investment portfolios, which took place last year after an ethical scandal involving the trading activities of two central bankers. rice field.
Richmond Fed's Thomas Barkin sells Georgia bonds and matures his individual corporate bond holdings without reinvesting, the 2021 disclosure shows. The move is designed to ensure that his holdings continue to comply with federal rules when the new restrictions come into force, the disclosure shows.
Last year, Mary Daily of the San Francisco Federation sold dozens of securities from an account she shared with her spouse, her disclosure shows. The federal government had created a new rule, but the deal was closed at the end of the year before it was finalized in February.
New federal regulations prohibit policy makers from holding individual bonds or buying stock securities and impose strict disclosure requirements on planned transactions.
It was revealed last fall that Federal President Robert Kaplan of Dallas and Federal President Eric Rosengren of Boston actively traded securities in 2020 as the Central Bank had purchased trillions of dollars in the Ministry of Finance. After that, Federal Chairman Jerome Powell ordered a review of the rules. Housing loan-backed securities to stabilize the financial market.
Within a few weeks, they said their activities were in line with the guidelines of the federal government at the time, but both resigned.
However, their transactions are spilled over into the financial market, and even while they participate in interest rates and other decisions that directly affect the value of their stocks and bonds, policy makers are securities. I questioned the validity of buying and selling.
According to Birkin's disclosure, the exact value of his sale was unknown, but at the end of last year he held over $ 1 million in state bonds and at least $ 500,000 in corporate bonds. rice field.
Daly's form shows that he sold 70 different securities at the end of 2021, almost all of which were valued in the range of $ 1,001 to $ 50,000. Her holdings in a corporate bond fund were awarded between $ 50,001 and $ 250,000. (Report by Ann Saphir; edited by Richard Chang and Bill Berkrot)
