News and Notes

ESMA launches 2021 CCP stress test

MLEX: US Fed aims to adopt last Basel III part by January 2023 with ‘capital neutral’ calibrations across system

ESRB: A quantitative analysis of the countercyclical capital buffer

CME Group Launches FTSE 100 Adjusted Interest Rate Total Return Futures

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IHS Markit releases seclending compliance tool for beneficial owners

Fed’s Quarles doubles down on tailoring and no Countercyclical Capital Buffer

ION Group completes acquisition of DASH

ESMA warns on prolonged period of risk from market corrections

FT: US money market funds struggle as short-term rates near negative territory

NY Fed to start SMCCF sale of corporate bond ETFs on June 7

Tradeweb’s repo ADV up 59.7% YoY to $369.3bn in May 2021

ISLA publishes changes to LIBOR references in the GMSLA

BPI: Counterproductive Countercyclical Capital Buffer

OCC seclending CCP volume up 61.3% at $120bn in May yoy

DataLend: $845 million in Securities Lending Revenue in May 2021

ESMA clarifies how firms should report reference rate changes in SFTR

Fed proposes modifications to Payment System Risk to expand collateralized capacity

ESMA consults on TR data transfers under EMIR and SFTR

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FIS rebrands Astec, Loanet, Global One and Apex products

FOMC generally supports a Standing Repo Facility

PASLA and RMA launch Global Framework for ESG and Securities Lending

ESMA publishes guidelines on the calculation of positions under SFTR

ESMA asks EC to include T2S in CSDR

Reuters: Fed reverse repo volume sparks worries U.S. short-term rates could go below zero

ISDA Expands ISDA Clause Library to Cover Collateral Documentation

DTCC paper: more central clearing of US Treasuries would reduce risk and improve resiliency

FT: Goldman Sachs opportunities in crypto prime brokerage

Fed Reverse Repo Facility jumps to $351 billion on Thursday May 20

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Federal Reserve survey shows 2/3rds of banks ready to limit reserve balances

ISDA white paper advocates CDM for risk, capital and margin reporting

ESMA proposes lowering the reporting threshold for net short positions to 0.1% on a permanent basis

Bank of England’s Jon Hall says more work needed on prime brokerage risks

ISLA Publishes 2020 US Tax Addendum to GMSLA Security Interest over Collateral (2018)

Transcend Launches First Enterprise-Wide CCP Connectivity and Optimization Solution

World Federation of Exchanges reports 40.4% increase in derivatives trading volumes in 2020

ISDA Publishes Security-based Swaps Protocol Agreement

Global Investor: LCH RepoClear presents the case for repo clearing

UK PRA publishes statement on supervisory benchmarking exercise relating to capital internal models

Pirum launches CollateralConnect Exposure Analytics

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ISLA Responds to the Consultation on Financial Collateral Directive

Sharegain’s BetterLend lets lenders attribute seclending revenue to ESG projects

Pirum announces enhancement for SFTR reconciliation workflow

Liquidity will center on RFRs with alternative rates in the mix , ISDA AGM panelists say

ISLA gets seclending product into CDM codebase

BNY Mellon Appoints Laide Majiyagbe Head of Financing and Liquidity

DTCC receives SEC approval to provide security-based swap data reporting services in the US