WASHINGTON -- The Treasury Department told House lawmakers that any large position reporting rule it adopts for the goverment securities market would largely affect primary dealers.

In an Oct. 18 letter to Rep. Edward Markey, D-Mass., Frank Newman, Treasury undersecretary for domestic finance, said a reporting rule would most likely apply only when market participants have a position "in the billions of dollars. Consequently, very few entities would have to submit reports."

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