Posts by Josh Galper

What happens if the Fed lowers counterparty credit limits on the Reverse Repo Facility?

Hedge fund sentiment in the US TRS market shows short bias and short-termism

Rates & Repo Europe panel replays are now live

We review ISLA’s paper on tokenization for securities finance

A FISL proposal: new securities lending structures needed for US ’40 Act funds, ERISA plans and UCITS funds

Finadium: DeFi for the Securities Industry

Central banks are watching private sector repo market capacity, but some more than others

Revisions to bank capital rules following SVB and Credit Suisse are ill suited to solve the core problem

Analysis of the tokenization and CBDC panels at Citi’s Digital Money Symposium

What would happen if the Fed lowered the Reverse Repo Facility rate?

What’s holding Southeast Asia up on cross-border collateral integration?

Buy-side reading packet for the Finadium Investors in Securities Lending conference, May 17-18, NYC

The Sunthay argument for why Guaranteed Repo is the only viable short-term solution for repo constraints

Recent events in the US repo market

Is Credit Suisse’s new financing round enough to change market opinion on the safety of the bank as counterparty?

Finadium: Liquidity at Stake: Analysis of the Mandatory Clearing Proposal for US Treasury Repo

Silicon Valley Bank and Circle’s USDC show the perils of collateral security for stablecoins – we called this in a recent report

Is the UK short selling proposal on public disclosures fit for purpose?

Indemnification is appreciated, but does it cause more harm than good for beneficial owners?

Look to the Treasury General Account balance to impact the Fed’s Reverse Repo Facility in Q2 2023

Hedge funds and counterparty exposure management

Most hedge funds nailed Friday’s US equity market downturn – TRS data showed the move before the open

Creating indices of TRS transactions on the fly for index forecasting

Back to the US SLR for US Treasuries

Repo CCPs help but are no panacea for volatile market conditions

Finadium releases daily US OTC equity swaps data, boosting market transparency

Finadium: Hedge Fund Approaches to Treasury Management Systems

UK accepts possible bank disintermediation with digital pound

Finadium offers public webinar for students and new professionals on the collateralized trading markets

Where did the end of year US term repo go?

A key takeaway from GFF on collateral optimization

Finadium Big Ideas Quarterly Q1 2023 now online

How many bank stablecoins will the world need?

We size the global collateral markets at $25.5 trillion, up from $19.8 trillion in 2019

A mandate to clear US Treasury securities loans along with UST repo would upend industry dynamics

Some agent lenders and some repo dealers are converging in their service offerings for clients

Tracking correlations between Total Return Swaps trades and cash equity price movements

Registration now live: Rates & Repo Europe 2023, London, 29 March

Finadium: US Repo Conditions and Market Structure in 2023

Buy-side collateral self-sufficiency to speed up in 2023

The outlook for BBH agency securities lending as an independent business

The private benefits of repo CCPs are proven, but what about the public benefits?

Could HQLA^X‘s solution have helped ease market and operational disruptions during the recent UK Gilt volatility?

Finadium: Agent Lender Survey 2022

Zurich Secfinance and Repo Roundtable – notes and our slides

Assessing climate risk on bank balance sheets is no easy matter

We’re taking DeFi seriously

Would the SEC’s proposal to change 15c3-3a for UST repo clearing change market behavior without a full mandate?

Rates & Repo 2022 webinar replays are online

Two central bank working papers could have short-term impacts on financial regulation