Fed's LSE blog chimes in on why not to lower Interest on Excess Reserves rate; we think they miss the point
Sovereigns and OTC Derivatives Clearing: the rules are a mess. We look at an excellent paper from BNYM.
Another shoe drops: Basel Committee and IOSCO issue consultation paper on margin for non-cleared derivatives
Singh and Stella on the velocity of collateral: banks just don't trust each other. We think there is more to it.