Securities Lending: OCC’s securities lending CCP activities saw a 38 percent increase in new loans over November 2011 with 72,740 transactions last month. Year-to-date stock loan activity is up 27 percent from 2011 with 886,690 new loan transactions in 2012. The average daily loan value at OCC in November was $30,443,379,074.
OCC's securities lending cleared volumes up 38% YoY
Fed continues to believe in IOER as-is; we think it is time for a serious policy review
Pro-cyclicality: ISDA and the FSB use the same term but want very different things