Debt buyback program set to improve liquidity, says US Treasury official

NEW YORK - A recently launched U.S. Treasuries buyback program should improve liquidity in the U.S. government bond market while other initiatives will boost transparency on prices and visibility on the use of leverage, a Treasury official said on Wednesday.

They are also expected to prompt more trading and allow bond dealers to free up balance sheets, he said. Buybacks are part of a slate of initiatives launched by the Treasury and other institutions to improve liquidity and avoid trading disruptions in the world's biggest bond market, the bedrock of the global financial system.

More recently, the Treasury's Office of Financial Research said it will soon start to collect data on transactions in the non-centrally cleared bilateral repo market, an opaque corner of Wall Street largely used by hedge funds to finance their trades.

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