The Federal Reserve Board on Wednesday invited public comment on a technical notice of review regarding primary dealers operating in Spain.
Specifically, a bank owned by a Spanish parent company intends to acquire a domestic primary dealer. A primary dealer is a securities broker‑dealer or other entity that has been approved to be a trading counterparty with the Federal Reserve Bank of New York. As a result, the Federal Reserve is required by law to make a specific determination about the respective competitive opportunities in the Spanish and American public debt markets.
Comments must be received within 30 days of the notice's publication in the Federal Register.
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