News and Notes

BIS publishes Triennial Central Bank Survey of foreign exchange and OTC derivatives markets in 2016

CFTC Issues No-Action Letter to Swap Dealers to Extend Collateral Rule Deadline due to Limitations with Custodial Accounts

OCC Securities Lending CCP Activity Grew 35 Percent in August and 41 Percent Year-to-Date

FT Advisor: Vanguard to allow securities lending on largest ETFs

ECB working paper: tax shadow banking

Basel III implementation: Basel Committee reports to G20 Leaders

WSJ: Why Money Markets Should Be Expecting a Bumpy September

World Federation of Exchanges survey: 84% of respondents investigating Distributed Ledger Technology

Bloomberg: Derivatives Users Hit as Negative Rates Raise Collateral Costs

FSB publishes progress report to G20 on action plan to assess and address the decline in correspondent banking

BNYM publishes summary of SFTR rules

FSB publishes progress reports on implementation of reforms to the OTC derivatives market and on removal of barriers to trade reporting

IOSCO: Harmonisation of the Unique Product Identifier (UPI), second consultative report

Bloomberg: Europe's FTT delayed again

Bank of England working paper: The role of collateral in supporting liquidity

Fed blog post: A Closer Look at the Federal Reserve's Securities Lending Program

ISDA Publishes 2016 Variation Margin Protocol

Bloomberg: Banks may leave UK before Brexit comes into force

FSB publishes discussion note on Essential Aspects of CCP Resolution Planning and progress report on CCP workplan

Reports from CPMI-IOSCO advance regulatory agenda on central counterparties

Bloomberg: Bank of Russia Rummages Through Toolkit as Liquidity Glut Surges

GFMA Urges Basel Committee to Undertake Period for Observation and Adjustments to Rules

CFTC helps clearinghouses use Fed for customer funds, DCOs can't hold initial margin in prime money market funds

Cowen Announces Formation of Securities Finance Business

ENSO and EBS Treasury Partner to Create Leading Hedge Fund Basel III Optimization Platform

Helix Financial Systems Adds Wedbush Securities as Client for its Repo Collateral Management Services

ISDA updates OTC derivatives compliance calendar

UK's PRA encourages firms to apply for temporary modification of the Leverage Ratio

EBA recommends a 3% Leverage Ratio in the EU

Global Investor: Commerzbank to cut back sec lending and collateral business

Blockchain: Thomson Reuters joins R3; Calypso joins Wall Street Blockchain Alliance

US Regulators issue statement on progress of analyzing the U.S. Treasury Market Structure since the July 2015 Joint Staff Report

ESRB publishes first EU Shadow Banking Monitor

ECSDA: CSD links in Europe

OCC Securities Lending CCP Activity Up 24 Percent in July and 41 Percent Year-to-Date

EquiLend Acquires AQS to Facilitate OCC CCP Connectivity for Securities Finance Market

FIS Video: The Economics of Collateral and Making a Profit, Part 1 (at theotcspace.com)

UK PRA: Implementation of the systemic risk buffer consultation paper – CP27/16

Northern Trust to leverage GlobalCollateral Ltd’s margin settlement messaging service

DTCC-Euroclear GlobalCollateral: A Global Approach to Collateral Management

OFR white paper: Does OTC Derivatives Reform Incentivize Central Clearing?

FSB publishes third annual report

Korea: Short-selling reporting measures under fire

WSJ: ‘Direct’ Repo Loans Gaining Traction as Banks Step Back

CFTC Staff Issues Guidance to Clearinghouses on Recovery Plans and Wind-Down Plans