SIFMA Supports Proposed Rule Change to Increase Number of "Sponsoring Member" Firms

SIFMA supported a Fixed-Income Clearing Corporation ("FICC") proposed rule change to expand the number of firms eligible to act as "Sponsoring Members" for repurchase transactions in U.S. government securities. In a comment letter to the SEC, SIFMA stated that FICC's proposed rule change would help to "improve overall resiliency" of the repurchase agreement market through better liquidity and risk management "provided by broader access to central clearing."