News and Notes

Dutch regulator: transparency in fixed income and derivatives pricing needs improvement

BIS research finds big data could decrease significance of collateral

IIROC estimates $500mn industry savings from self-regulatory organization consolidation

People’s Bank of China promotes repo as benchmark interest rate

Regulation Asia: Brokers Push Back Against ASIC Proposal to Limit CFD Leverage

South Korea extends short selling ban for six months

Vanguard reorganizes Prime Money Market Fund into a government money fund

ESMA postpones CSDR settlement discipline until February 2022

Federal Open Market Committee announces approval of updates to its Statement on Longer-Run Goals and Monetary Policy Strategy

US regulators provide flexibility to banks adopting CECL in 2020

Reuters: Vietnam considers introducing equities short-selling

Thailand SEC requests comments on plan to allow retail investor access to repo and reverse repo

Nikkei Asian Review: Japan Securities Finance buys 10% stake in Pendanaan Efek Indonesia

UK Prudential Regulation Authority terminates risks-not-in-VAR temporary measure

SGX Partners with Cassini Systems on UMR

ISDA: CSDR delay until 1 February 2021 published in Official Journal of the EU

ISLA publishes 13th Securities Lending Market Report

Fed blog post tests theory on Fed Funds rate and short-term Treasury supply

Paper: The Collateral Supply Effect on Central Bank Policy

BoE blog: cross-border dollar funding during COVID-19

ECB’s SESFOD reports collateral liquidity deterioration, valuation disputes in record acceleration in June

Get the weekly SFM update – our August 21 newsletter is online

ISLA publishes a series of SRD II proforma letters and Q&As

Major central banks reducing frequency of 7-day USD liquidity operations on low demand

Reuters: London to maintain grip on EU financial market plumbing post Brexit

BNYM: The Pandemic Stress Test: US Government Securities Clearance & Repo

ECB: Liquidation Value and Loan Pricing: Evidence From Repo Markets

Report: Investor Monitoring, Money-Likeness and Stability of Money Market Funds

EU agrees on higher skin in the game for CCPs

IMF: privacy provision, payment latency and the role of collateral

Get the weekly SFM update – our August 14 newsletter is online

Numerix: current state of XVA usage in Latin America

UK Competition and Markets Authority okays ION purchase of Broadway FX business only

Federal Reserve Board announces individual large bank capital requirements, effective on October 1

BoE: modelling fire sale contagion across UK banks and non-banks

Eurex clears first SOFR swap transactions with LBBW and J.P. Morgan

Get the weekly SFM update – our August 7 newsletter is online

Basel Committee releases consultative documents on principles for operational risk and operational resilience

Tradeweb’s repo ADV up 17.7% YoY to $248.5bn in July

WSJ: Covid Supercharges Federal Reserve as Backup Lender to the World

OCC seclending volumes down 9.7% in July 2020 year over year

OCC submits updated plan to regulators for skin-in-the-game

Fed blog recaps March Fed repo operations and results

ISLA: TRs accepting 95% of SFTR transactions, data volumes to peak in 2-3 months

European Association of CCP Clearing Houses (EACH) pushes back on clearing member compensation guidance

Bank of England publishes CRD V proposal

Get the weekly SFM update – our July 31 newsletter is online

UK FCA warns firms on inappropriate use of title transfer collateral arrangements

Fed extends liquidity swap lines with nine central banks to March 31, 2021

GLMX and Adroit partner on repo workflows