The NY Fed Liberty Street Economics Blog on SOMA revenues: as interest rates...
The Liberty Street Economics Blog over at the NY Fed continues their series on the System Open Market Account (SOMA). We really liked “More Than Meets the Eye: Some Fiscal Implications of Monetary...
View ArticleBloomberg article on the impact of regulatory reform for the repo market: is...
An article in Bloomberg “Repo Market Decline Raises Alarm as Regulation Strains Debt” by Liz Capo McCormick & Anchalee Worrachate featured some interesting observations about how the regulatory...
View ArticleLessons from Lehman: Collateral Shortages
The policies that came into being as a result of the financial crisis had numerous unintended consequences. Few have caused more sturm und drang than the collateral shortage. The first effect of...
View ArticleDemand for people with collateral management skills: banking’s next hot job...
An article in www.hereisthecity.com made us laugh. It was called “The 15 banking jobs that will be the most secure over the next 7 years”. #2 is Centralised clearing specialists. “…Over-the-counter...
View ArticleThe CFTC and liquidity rules for DCOs: do they need committed repo facilities...
There is a battle brewing between the CFTC and DCOs over collateral liquidity. And its impact on repo will potentially be enormous. CFTC 39.33 (c)(3)(i) is a proposed rule that requires DCOs to hold...
View ArticleZoltan Pozsar: “Shadow banking and the global financial ecosystem”. A...
We came across an article “Shadow banking and the global financial ecosystem“ (Nov. 7, 2013) by Zoltan Pozsar of the Institute for New Economic Thinking. This is one of the most interesting articles on...
View ArticleThe SEC’s proposed rules on CCPs: tough new requirements or just business as...
Last week the SEC issued a 400 page proposed rule-making for CCP operations in the US – this is the US translation of CPSS-IOSCO’s Principles for Financial Market Infrastructure from April 2012. This...
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A look at the new ISDA Margin Survey: cash vs. securities and who is doing...
ISDA has just published their 2014 Margin Survey. There is plenty to look at and discuss. In this post, we focus on the use of cash as collateral and who is doing collateral optimization. The ISDA...
View ArticleCrane Data releases April Money Market Fund numbers — repo takes it on the chin
On May 9th Crane Data released their May Money Fund Portfolio Holdings report. There were some interesting numbers. The data, which is as of April 30th, showed a shift out of repo (and in particular NY...
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Fed’s Potter outlines how they will raise rates….using higher IOER as a...
Simon Potter spoke at the SIFMA Conference on Securities Financing Transactions yesterday in New York. Potter is the Fed’s man in charge of open market operations and he explained how the Fed would...
View ArticleFed releases request for public comment on regulating GE Capital. These rules...
The Federal Reserve just came out with a request for public comment on the regulation of General Electric Capital Corp (GECC) as a Sifi, “Application of Enhanced Prudential Standards and Reporting...
View ArticleFinadium launches Finadium for Investors, a new subscription series
Finadium for Investors is a new service from Finadium designed for asset managers, hedge funds, plan sponsors and other purchasers of bank services, equities and fixed income products. This...
View ArticlePart I: The Fed releases rules on capital for GSIBs, includes extra...
The Fed has released the latest capital rules for Global Systemically Important Bank Holding Companies (GSIBs). One critical part of this set of rules is the inclusion of a second calculation...
View ArticlePart II: The Fed releases rules on capital for GSIBs, includes extra...
This is part II of our post on the Fed’s new capital rules. We look at the calculation methodology and some observations about the rules. Read More
View ArticleDebevoise & Plimpton publishes a guide to NSFR — providing some clarity to a...
Last month Debevoise & Plimpton published a nice guide to the Net Stable Funding Ratio (NSFR), “Client Update Basel Committee Adopts Net Stable Funding Ratio: How Much Liquidity Is Enough?”. The...
View ArticleIts time to build a collateral and liquidity strategy
Financial market participants of all sizes have moved out of the tactical phases and now need to focus on creating a long term collateral and liquidity strategy. This will require a change in attitude...
View ArticleThe Systemic Risk Council publishes an interactive tool for looking at bank...
The Systemic Risk Council recently came out with a “Systemic Risk Council Interactive Tool”, an interesting way to look at banks. Read More
View ArticleFinadium announces June events on clearing for repo and funding; T2S,...
Finadium is pleased to announce four events coming up in June. We’re coming to New York, Frankfurt, London and Paris, with compelling programs on new and innovative topics in securities finance....
View ArticleFinadium: T2S, Collateral and Liquidity: Building a Strategy for Growth
Collateral and liquidity management under TARGET2-Securities (T2S) is an emerging work stream that requires attention from market participants. Settlement mechanisms under T2S are now generally...
View ArticleT2S, Collateral and Business Model Change
Despite a common currency, Eurozone securities do not have a single settlement system. That will soon be changing. TARGET2-Securities (T2S), the European Central Bank’s (ECB) settlement initiative,...
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