WASHINGTON, March 29 (Reuters) - U.S. banks have intensified
efforts to ensure that their funds and assets are properly
protected, after the MF Global scandal where an estimated $1.6
billion in customer funds vanished, according to a Federal
Reserve survey released on Thursday.
Over the past six months, U.S. banks have boosted
arrangements to ensure that their collateral and margin are
protected by a third party to reduce the risk of anything
happening to their funds, said the report.
Following the failure of MF Global in October, market
players have "focused more intensively on the possible
consequences of financial distress on the part of dealers with
whom they have posted collateral," said the Fed's quarterly
survey of senior credit officers.
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