Analysis of ICE’s proposed unsecured US bank yield benchmark (Premium)

January 28, 2019

ICE Benchmark Administration, LIBOR, SOFR, topstory, US Dollar ICE Bank Yield Index

ICE Benchmark Administration (IBA), manager of LIBOR, has created a product to compete in the cash markets with… LIBOR. It’s a compelling idea worth consideration. Here’s what we think about…

TLAC bond requirements get tougher – will investors still want them?

August 1, 2017

Richard Stinchfield

Basel III, Corporate Bonds, Europe, Liquidity Management, Regulatory, Risk Management, Systemic Risk, unsecured funding

Bonds, Funding/Liquidity, regulatory capital, TLAC, topstory

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Total Loss Absorbing Capital (TLAC) is a core element of the Basel regulatory capital regime, which sets minimum liquidity reserve standards for banks. Banks are now issuing qualifying debt instruments…

A primer on dollar FX swaps and why they matter (Premium)

August 9, 2016

Josh Galper

Derivatives, Repo, unsecured funding

FX Swaps, secured funding, topstory, unsecured funding

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Yesterday we discussed the recent Credit Suisse research report on foreign bank reliance on US money markets and how reduced money fund assets could mean a greater demand for dollar…

Credit Suisse says Japanese banks are driving unsecured debt pricing in US money markets, and the move to the Overnight Benchmark Funding Rate is not going to end well

August 8, 2016

Josh Galper

Derivatives, Money Market Funds, Repo, unsecured funding, US

Credit Suisse, FX Swaps, LIBOR, secured funding, topstory, unsecured funding

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In a new Fixed Income Research release, Zoltan Pozsar, formerly of the US Treasury, and his colleague Sarah Smith have conducted a deep analysis of secured and unsecured debt pricing…

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