News and Notes

ESMA combats “un-due short-termism” in markets, no action on seclending

AFME, FIA, ICMA, ISDA and ISLA publish Master Regulatory Reporting Agreement

FSB report assesses vulnerabilities of leveraged loans and CLOs

SEC issues new rules for uncleared Security-Based Swaps

CFTC Provides Relief to Market Participants Transitioning Away from LIBOR

BIS: Central banking in challenging times

Northern Trust expands OTC derivatives collateral services

US agencies approve resolution plans for all banks, find shortcomings in six of eight

Fed extends SOFR Averages and SOFR Index comments to Jan 10 2020

ISLA Announces Formation of the Council for Sustainable Finance

Bank of England says UK banks will be resilient to simultaneous recessions in the UK and global economies

BEAT final regulations change securities lending provisions

Fed adds $660 billion in liquidity operations to cover the turn of 2020

IOSCO launches framework for monitoring leverage in funds that may pose stability risks

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RBC Investor & Treasury Services launches new Collateral Management service

BIS: The cost of clearing fragmentation

SEC’s Dalia Blass speaks on affiliated securities lending

Tradeweb annual review says 35% of GBP interest rate swaps now indexed to SONIA

EquiLend launches Swaptimization platform

RepoClear clears first Variable Rate Repo indexed to €STR

ESMA values EU derivatives market at €735TN

BIS documents role of top four lenders in US repo market

Independent dealer association calls for diversity, decrease in concentration in US repo markets

BIS paper: Euro repo market functioning: collateral is king

Reuters: cracks in the regulatory wall against possible revisions to capital rules

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ESAs reinforce that OTC derivative fallbacks should not create legacy contract obligations

ESMA publishes final report for bilateral margining, amendments conform to BCBS-IOSCO

Tradeweb repo activity lifts slightly to $190.4bn ADV in November

ISLA publishes EU seclending markets manifesto with 5-year priorities

Japan’s Government Pension Investment Fund halts equity securities lending program

OCC seclending CCP activity declined 17.6% in Nov 2019 year over year

European banks transact on DLT-based seclending platform

Bloomberg: E*Trade Sued Over Interest on ‘Hard-to-Borrow’ Short Sales

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ICMA survey warns on CSDR’s mandatory buy-in regime for European bonds

Basel Committee publishes consultation paper on revisions to the CVA risk framework

ISLA Publishes SFTR Report Modeller

SGX enhances Securities Borrowing and Lending programme with introduction of variable rates

ESMA releases consultation response on aligning MiFIR to EMIR REFIT

ISDA: Key Trends in the Size and Composition of OTC Derivatives Markets in the First Half of 2019

Basel Committee issues guiding principles for the operationalisation of a sectoral countercyclical capital buffer

FSB updates Regulatory framework for haircuts on non-centrally cleared securities financing transactions

First automated repo trade confirmation in US as Citadel, J.P. Morgan tap MarketAxess engine

Reuters: U.S. banks cram for Fed risk test, with ripple effects in repo

Basel Committee publishes GSIB list and methodology

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Reuters: Return of short-selling bans: market protection or ‘war against truth’?

BME Clearing starts clearing repo trades on European sovereign debt