News and Notes

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Broad Reach taps Arcesium for collateral tech in Treasury operations

Fed Vice Chair for Supervision Quarles on the 2021 bank stress tests

FSB key priorities for 2021 include CCPs and non-bank financial intermediation

Exclusive: Bob Zekraus to join Pirum as COO

ISLA issues new pledge documentation to support BNY Mellon as collateral manager

UK PRA publishes statement on EBA guidelines and EU RTS on credit risk following end of transition period

EBA allows alternative treatment of institutions’ exposures to tri-party repo

Broadridge Launches Wealth Lending Network Marketplace with securities-based lending functionality

ISLA Publishes Paper on Legal Clause Library & Legal Data Standards

SEC releases a primer on money market funds and the repo market

Bank of England Securities Lending Committee expresses frustration with criticisms of seclending and short selling

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Pirum introduces shape exceptions to minimize SFTR/CSDR impacts

WSJ: GameStop Frenzy Prompts SEC to Weigh More Short Sale Transparency

Fed blog: US repo markets are highly competitive, rebutting BIS and Sponsored Repo concerns

ETF Stream: HSBC GAM to start securities lending on ETF range

ICE reports $1.03 trillion notional in SOFR activity for January 2021

Korean lawmaker highlights foreign bank short selling fees

ESRB report warns on regulatory capital knock-on effects from COVID measures

Bloomberg: US Treasury cash moves could lead to lower interest rates

IHS Markit: an explanation of how short interest is calculated

UK Prudential Regulation Authority releases consultation paper on UK implementation of Basel standards

ECB staff: Money markets, central bank balance sheets, and regulation

FT: US banks push Fed for extension of Covid capital relief

Federal Reserve Board releases hypothetical scenarios for its 2021 bank stress tests

ISLA’s Dyson on GameStop as short squeeze, calls to educate participants as CMU expands

AFME publishes position paper on CSDR’s mandatory buy-in rules

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BIS working paper: Do macroprudential policies affect non-bank financial intermediation?

Eurex on how to accelerate cleared repo for the buy-side

DekaBank-led Digital Collateral Protocol completes first securities lending transactions on blockchain

ESMA organizes workshop on “CCP margins and procyclicality in times of crisis” for 17 February 2021

The Trade: BNP Paribas to roll out new prime division this year following Deutsche Bank integration

BNY Mellon and Google Cloud team up for predicting fails in Fed-eligible securities

Eurex sees January volumes down 32% in GC pooling at €62.7bn and 11% in repo market at €60.4bn yoy

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SEC Requests Comment on Potential Money Market Fund Reform Options Highlighted in President’s Working Group Report

Tradeweb’s repo ADV up 40.6% YoY at $328.4bn in January 2021

South Korea extends short selling ban until May 2, only large cap liquid stocks to resume

EACH publishes its response to European Commission CSDR Review Consultation

CME Group Completes Migration of BrokerTec Trading Platform to CME Globex

IHS Markit Enhances ETF Collateral Lists to Accelerate Counterparty Borrowing

Axoni raises $31 million from Deutsche Bank, Intel Capital, UBS and existing investors

Bank of England Securities Lending Committee notes sharp rise in corporate bonds as collateral, efforts on diversity and inclusion

OCC seclending CCP volume up 31% at $106.2bn in January 2021 yoy

Canada’s CDS and Euroclear aim to develop collateral management service for Canada

FT: Jim Chanos laments politicisation of ‘surreal’ GameStop saga

ECB working paper: LCR increases demand for central bank reserves

Reuters: China’s o/n repo highest since March 2015, busts PBOC corridor ceiling