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Commentary by Steven Lofchie

The New York State Department of Financial Services issued guidance for financial institutions on the "management of material financial and operational risk from climate change."

Commentary by Steven Lofchie

The SEC adopted a rule that any SEC-registered central clearing agency that provides central clearing of U.S. Treasury securities ("USTs") shall require its members to centrally clear (i) most repurchase and reverse repurchase transactions in USTs to which it is a counterparty and (ii) certain cash market purchases and sales of USTs.