News and Notes

DTCC releases case studies and proposals on distributed ledger technology for settlements and private markets

US regulators agree on more detailed changes to Supplementary Leverage Ratio exclusion of US Treasuries

CME to wind down regulatory reporting businesses and EU and Australian trade repositories

Bank of England paper: The interbank market puzzle

Fed discontinuing three month repo operations

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Pirum announces SFTR compliance for CCP Gateway via Eurex Clearing

BIS: US dollar funding markets during the Covid-19 crisis – the money market fund turmoil

BIS: US dollar funding markets during the Covid-19 crisis – the international dimension

European Commission endorses CSDR delay until February 2021

Fed starts to buy corporate bond ETFs

BIS research says central banks need to assess CCPs jointly in wake COVID-19 turbulence

DTCC’s NSCC completes $2 billion debt offering to bolster liquidity resources

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ARRC publishes results of vendor readiness for SOFR transition

ARRC introduces an ISDA-like option for LIBOR to SOFR fallback language

Fitch maintains stable ratings for Euroclear and Clearstream

Bloomberg: PIMCO suggests Fed to open up primary dealer system to asset managers

DTCC, Unavista, REGIS-TR and KDPW approved as SFTR trade repositories

Regulators modify liquidity coverage ratio for banks participating in money market facility and PPP liquidity programs

MTS launches MTS Depo for unsecured money market trading

Reserve Bank of Australia expands eligibility of corporate debt as collateral

BIS: Releasing bank buffers to cushion the crisis – a quantitative assessment

Axoni to replace OCC’s seclending infrastructure with DLT

Tradeweb’s repo ADV up 18.7% yoy to $223.1bn in April

BNY Mellon, J.P. Morgan, State Street among investors for Citi-developed proxy voting platform raising $20.5mn

BIS working paper: CCPs may dampen innovation and efficiency in market making

FSB consults on assessing adequacy of financial resources for CCP resolution

European regulators defer bilateral OTC derivatives margining requirement for one year

Bank of England: Bounce Bank Loans can be excluded from UK Leverage Ratio

Federal Reserve extends time for foreign banks to comply with single counterparty credit limit rule

OCC seclending volumes up 4% in April 2020 year over year

ISLA Publish Bankruptcy Remoteness Opinions to Support the GMSLA Security Interest over Collateral Agreement

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State Street paper offers perspective on the intersection of ESG and securities lending

REGIS-TR and Sensiple to collaborate on delegated reporting services for SFTR

Basel Committee issues progress report on banks’ implementation of the “Principles for effective risk data aggregation and reporting”

Credit Agricole and Bank of China transact first onshore SOFR-linked swap

ICMA publishes an in-depth report on consolidated tape for greater post-trade transparency in the EU bond markets

WFE paper says academic research shows short-selling bans are disruptive. Again.

European Commission proposes changes to IFRS9 and Leverage Ratio but fails to exempt government bonds

Report: APAC overtakes EU for seclending revenue, Japan leads and China “hugely encouraging”

IIAC: functioning and liquidity in Canada’s fixed income markets during COVID-19

Bank of Japan pledges to put asset purchases on hyperdrive

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Euronext to acquire Danish CSD at €150mn valuation

Bloomberg: SocGen marketing quant equity repo index strategy