WSJ: DTCC seeks pledges to cover possible repo defaults

Repo-Rescue Plan Turns to Banks, Asset Managers
By Katy Burne
Updated May 12, 2016 3:07 p.m. ET
Securities-industry officials are asking a number of banks and large asset managers to help shore up a key short-term lending market.
Depository Trust & Clearing Corp., an industry utility that operates much of the plumbing for Wall Street’s trading, is seeking pledges to help cover an expected cash shortfall if a member of its Fixed Income Clearing Corp. unit defaults, said people familiar with the talks.
The full article is available at http://www.wsj.com/articles/repo-rescue-plan-turns-to-banks-asset-managers-1463079863

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