Federal Reserve Meeting Minutes: SRF Helps Effective Implementation and Transmission of Monetary Policy.

Most participants expressed their opinions on the possibility of central clearing in SRF trading. Among those who voiced their opinions, almost all pointed out that SRF helps with the effective implementation and transmission of monetary policy, while also promoting smooth market operations. Central clearing in SRF trading can further enhance the effectiveness of this tool. A few participants expressed concerns about the risks related to central clearing in SRF, including the increased systemic importance of central clearing providers. Participants who voiced their opinions generally support further research on central clearing in SRF trading.