The SEC published an order to determine whether to approve a proposal by FINRA that would establish margin requirements for "To-Be-Announced" transactions and other forward-settling transactions in agency securities on such transactions.
The Board of Governors of the Federal Reserve System ("FRB") approval of a final rule specifying its procedures for emergency lending under Federal Reserve Act Section 13(3) ("Discounts for Individuals, Partnerships and Corporations").
In its 29th semi-annual "European Repo Market Survey," the International Capital Market Association ("ICMA") reported that the trend in European repurchase agreement ("repo") activities is "still essentially sideways."
ISDA published the 2015 ISDA Universal Resolution Stay Protocol, which "enables parties to amend the terms of their Protocol Covered Agreements to contractually recognize the cross-border application of special resolution regimes applicable to certain financial companies and support the resolution of certain financial companies under the United States Bankruptcy Code." Several global trade associations contributed an annex to the revised protocols.
FINRA's revised proposal to amend FINRA Rule 4210 ("Margin Requirements") was published in the Federal Register. The amendments would establish margin requirements for (i) to-be-announced transactions ("TBAs"), (ii) Specified Pool Transactions and (iii) transactions in Collateralized Mortgage...
FINRA filed a proposed rule change to amend FINRA Rule 4210 to establish margin requirements for "To-Be-Announced" transactions ("TBAs") and other forward-settling transactions in agency securities. The proposal follows on recommendations for margining in these transactions made by the New York Federal Reserve Bank's Treasury Market Practice Group ("TMPG").
SIFMA, the International Securities Lending Association ("ISLA") and the International Capital Market Association ("ICMA") (collectively, the "associations") responded to a Prudential Regulation Authority consultation paper that proposed new rules requiring the recognition of UK resolution stays in...