SFI research: the euro interbank repo market
The search for a market design that ensures stable bank funding is at the top of regulators’ policy agenda. This paper empirically shows that the central counterparty (CCP)-based euro interbank…
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Responses to Treasury Market Structure RFI encourage repo clearing (Premium)
In January 2016 the US Treasury issued an RFI, “Notice Seeking Public Comment on the Evolution of the Treasury Market Structure.” The questions were pretty broad, covering “changes in technology,…
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Repo clearing is coming for HQLA. Should we declare victory and go home? Not really.
An April 16th article in Bloomberg, “Safest U.S. Debt Likely Only Collateral Covered in Repo Clearing” by Liz McCormick confirms what we already suspected: central clearing of repos will not…
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The DTCC’s Murray Pozmanter on letting the buy-side into GCF® repo (Premium Content)
CCP, Central Counterparties, Featured, Money Market Funds, Prime Brokerage, Repo, Tri-Party Repo, US
We had the opportunity to speak with Murray Pozmanter, DTCC General Manager and head of all SIFMU (Systematically Important Financial Market Utilities) businesses, about the DTCC’s planned expansion of GCF®…
Read More IFR: Funding ratio rule sparks repo clearing call
The US$1.6trn per day repo market is facing calls that it be moved into a centrally cleared framework as soon as possible as new Basel Committee rules threaten to further…
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DTCC Proposes Central Clearing for the U.S. $1.6 Trillion Institutional Tri-Party Repo Market
At last, the DTCC has officially thrown its hat into the ring to create a repo CCP for both the sell-side and buy-side. See especially the section called “How the Proposed…
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