(Adds participants, paragraph 3; additional background,
WASHINGTON, Sept 12 The Federal Reserve Bank of
New York held an emergency meeting on Friday evening with top
financial market representatives to discuss recent market
developments, a Fed official said.
"Senior representatives of major financial markets met at
the Federal Reserve Bank of New York Friday evening to discuss
recent market developments," a Fed official told Reuters.
The official said New York Fed President Timothy Geithner,
U.S. Treasury Secretary Henry Paulson and Securities and
Exchange Commission Chairman Christopher Cox were among the
participants in the meeting.
Financial markets have been on tenterhooks over the future
of Lehman Brothers Holdings Inc LEH.N and whether the
struggling investment bank, whose stock value has collapsed,
may or may not be able to find a buyer. The talks at the New
York Fed took place as discussions between Lehman and other
The Treasury and Fed have been involved in talks regarding
Lehman's future. Earlier on Friday, a source familiar with the
thinking of Treasury Secretary Henry Paulson said Paulson was
"adamant" no public funds be put on the line to help facilitate
(Reporting by Glenn Somerville; Writing by Tim Ahmann; Editing
by Gary Hill)