TRS as the next financing tool? Reuters and the FT have the story and we have some conclusions (Finadium subscribers only)
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.
Wednesday News Roundup: repo failures, Germany collateralizes, bank benefits from collateral (Finadium subscribers only)
Zoltan Pozsar's new paper “Shadow Banking: The Money View”: some very interesting ideas on how to use the Fed's reverse repo program
FT article on repo market “Big Investors replace banks in $4.2tn repo market” — the data doesn't make sense
NY Fed Governor Dudley on the Reverse Repo facility: a good tool to manage short rates but not without its risks
The next proposed US rules: adjusting the denominator of the Leverage Ratio (Finadium subscribers only)
The Net Stable Funding Ratio (NSFR) and repo market liquidity: A Basel accident or an effort at extreme risk mitigation?
Trends from emerging vendors in securities finance and collateral management (Finadium subscribers only)
“Matching Collateral Supply and Financing Demands in Dealer Banks” in the NY Fed’s Economic Policy Review. They really don’t like repo netting.
