The Federal Reserve Bank and the Office of the Comptroller of the Currency fined a bank for failing to monitor firm and client trading activities.
News & Insights
ISDA CEO Scott O'Malia outlined recent and forthcoming efforts to address benchmark reforms.
The Federal Housing Finance Agency ("FHFA") issued a final rule intended to improve the liquidity of Fannie Mae and Freddie Mac To-Be-Announced ("TBA") eligible mortgage-backed securities ("MBS"). The final rule requires Fannie Mae and Freddie Mac to maintain policies that promote aligned investor cash flows for both the current TBA eligible mortgage-backed securities and, upon its implementation, the uniform mortgage-backed securities ("UMBS"). The UMBS is "a common, fungible MBS that will be eligible for trading in the TBA market for fixed-rate mortgage loans backed by one-to-four unit
The U.S. District Court for the Southern District of New York held that certain syndicated loans sold to institutional investors are not "securities" and rejected claims of violations of federal and state securities laws.
ISDA, the Association of Financial Markets in Europe, International Capital Market Association, and SIFMA highlighted the challenges of transitioning from Interbank Offered Rates to risk free rates.