WASHINGTON -- Federal authorities have warned the House Energy and Commerce Committee not to adopt legislation backed by Rep. Edward Markey, D-Mass., to step up oversight and regulation of the goernment securities market.

The regulators, in a letter received last week by the committee's chairman, John Dingell, D-Mich., and made public yesterday, said the Markey bill could add to government borrowing costs and disrupt the market.

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