Funding Market Strains Spur Wall Street Calls for More Action From Fed

The Marriner S. Eccles Federal Reserve building in Washington, DC. Photographer: Alex Wroblewski/Bloomberg Pressures simmering in the $12 trillion market that serves as a critical source of day-to-day funding on Wall Street are spurring a growing chorus of calls for a more forceful Federal Reserve response to ease the pinch. Bank of America Corp., SMBC Nikko Securities Inc. and Barclays Plc are among firms warning that the central bank may need to take steps such as lending more in short-term markets or ...