The Fed releases proposed rules on using Muni bonds for LCR requirements. But the devil is in the details.
Part II: The Fed releases rules on capital for GSIBs, includes extra requirements for securities financing trades
Part I: The Fed releases rules on capital for GSIBs, includes extra requirements for securities financing trades
Corporates: how to invest their cash? Is non-intermediated access to centrally cleared tri-party repo coming?
WSJ writes about increase in bank UST positions being a Volcker Rule dodge. We wonder if it might be about LCR compliance?
The CFTC and liquidity rules for DCOs: do they need committed repo facilities for their US Treasuries?
Comments on the Fed's Jeremy Stein on the Liquidity Coverage Ratio and Lender of Last Resort: a fascinating speech (Finadium subscribers only)
Clearstream releases results of conference voting surveys (collateral transformation, negative interest rates)
Singh and Stella on the velocity of collateral: banks just don't trust each other. We think there is more to it.
“Replumbing Our Financial System: Uneven Progress” by Darrell Duffie: turn tri-party clearing into a "dedicated regulated utility"
EU may allow European asset-backed securities to be included as liquid assets for the liquidity coverage ratio. France & Germany push for delay to 2018, much to the chagrin of the UK.
Euromoney interview with IMF Economist Manmohan Singh on repo, re-hypothecation, collateral chains, and more
Basel III LCR rules may change, allowing corporates and equities. Nestle debt looks a whole lot better than Portugal.