Fed’s Dec. 2014 Senior Credit Officer Opinion Survey (SCOOS): balance sheet tightening, margins and volatility
Part II: The Fed releases rules on capital for GSIBs, includes extra requirements for securities financing trades
Part I: The Fed releases rules on capital for GSIBs, includes extra requirements for securities financing trades
Fed releases request for public comment on regulating GE Capital. These rules will keep GECC busy for a while.
Corporates: how to invest their cash? Is non-intermediated access to centrally cleared tri-party repo coming?
European rules on investment managers reporting securities financing to trade repositories — will they scare away lenders?
Fed's Potter outlines how they will raise rates….using higher IOER as a magnet. We think RRP is a better tool.
Pimco Total Return Fund reduces cash & repo in favor of futures exposure. Are they feeling the lack of liquidity in repo?
US regulators propose margin rules on non-cleared derivatives. Did they give non-financial end users a pass or not?
Required Collateral on Cleared Derivatives at FCMs has been growing, but overall numbers remain remarkably low
The Harvard Law School Forum article "Nationalize the Clearinghouses" — the author may have jumped the gun
WSJ writes about increase in bank UST positions being a Volcker Rule dodge. We wonder if it might be about LCR compliance?
"Reforming Major Interest Rate Benchmarks" from the FSB looks at using GCF repo as derivatives benchmark
"Embedded Financing: The Unsung Virtue of Derivatives”: An article from the Journal of Derivatives that every securities financing professional should read
The Economist writes about repo: “Neither liquid nor solid” and blames tight specials markets on regulatory change. Sorry, but no.
Zoltan Pozsar's new paper “Shadow Banking: The Money View”: some very interesting ideas on how to use the Fed's reverse repo program
