German Bank Gets Treasury Dealership: Germany’s Deutsche...
From Times Staff and Wire Reports
German Bank Gets Treasury Dealership: Germany’s Deutsche Bank was named a primary dealer of U.S. government securities by the New York Federal Reserve Bank. The Fed, which acts as fiscal agent for the Treasury, retains a few dozen key securities firms to act as lead dealers in government bonds. Some U.S. securities firms recently have viewed primary dealer status as increasingly costly in comparison to the benefits. But Deutsche Bank said it views the role as a way to open doors in the U.S. securities business.
