Survey of the Federal Reserve System's Supervision of the Treasury Securities Market

Pursuant to a congressional request, GAO assessed the Department of the Treasury's and the Federal Reserve System's management of the federal debt. The survey provided a comprehensive background of: (1) the Treasury securities market through the growth and composition of the federal debt, including securities regulation, market environment, and how the debt is sold; and (2) current issues in the government securities market, including risks, regulation management, and the impact of technology.