News and Notes

SCOOS dealer survey Sept 2020 shows funding terms easing for high-yield corporate bonds and consumer asset-backed securities

JLN: Securities futures exchange OneChicago stopped trading 18 September

BNY Mellon and GTreasury team up for cash deployment

ISLA comments on seclending impacts from EC’s CMU action plan

ISDA updates fallbacks for anticipated timetable of mid-late January 2021

ICMA publishes updated Guide to Best Practice in the European Repo Market

ECB to accept sustainability-linked bonds as collateral in 2021

OCC Issues Paper on Central Clearinghouse Resiliency and Stability

CloudMargin Raises $15 Million in Series B Funding Round with Citi, Deutsche Bank and Deutsche Börse as Primary Investors

European Commission grants 18 month equivalence to UK CCPs

Bank of England post on jumpstarting RMB internalization using FX Swaps

ECB publishes report on reducing reporting burden, increasing data quality

ECB finalizes guide to assessing how banks calculate counterparty credit risk

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Barclays: ECB Leverage Ratio relief not a game changer for euro short rates

Bank of England to work on negative rate operational issues in Q4 2020

ESMA renews lower short selling reporting threshold

SGX lists world’s largest Chinese pure government bond ETF, HSBC takes custody

SWIFT announces 2-year strategy for instant, frictionless payments and securities processing

ECB allows temporary relief in banks’ leverage ratio until late June 2021

SOFR volumes jump as packs and bundles liquidity arrives

FT article speculates on impact of US prime money fund closures to funding markets

FT: EU set to extend access to London clearing houses to mid-2022

DTCC boosts ETF clearing with multiple basket types and order customization

State Street Survey Finds Firms Unprepared to Comply with Uncleared Margin Rules Despite Deadline Extension

Bank of England: hedge funds and mutual funds have an information advantage in UK gilt trading

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Numerix: LIBOR transition challenged by ARR liquidity, data and tech systems

ICMA ERCC publishes fourth edition of its SFTR recommendations

Office of Financial Research releases US repo funding data

EACH: European CCPs prove resilience after BCP fire drill tests

Risk: BofA becomes first US bank to adopt SA-CCR

Monetary Authority of Singapore Enhances Access to Liquidity Facilities to Strengthen Banking Sector Resilience

ICMA publishes a briefing note on CSDR mandatory buy-ins and the requirement to appoint a buy-in agent

IHS Markit and Tokyo Stock Exchange to combine securities finance data sets

ISLA publishes industry guidance for securities lending performance measurement

FSB extends implementation timelines for securities financing transactions

Federal Reserve slightly adjusts stress tests results for Morgan Stanley and Goldman Sachs

Global Peer Financing Association adds Australian Super, CalSTRS and Thrivent Financial

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Tradeweb’s repo ADV up 18.1% YoY to $246bn in August

Stradley Ronon: New DOL Rule Proposal Risks Chilling Proxy Voting and Shareholder Engagement

European associations warn industry not ready for SRD II launch

ESMA sees high risk of decoupling of financial market performance and underlying economic activity

TriOptima Extends Collaboration with AcadiaSoft to Improve Industry Standard for Collateral Interest Payments Processing

OCC securities lending CCP volume down 4.3% in August 2020 year over year

Bobsguide: vendors facing an uncertain future with CSDR delay