FICC-MBS Alert! FICC has been notified of J.P. Morgan Securities LLC’s intent to close its JSPB Clearing and EPN account effective September 01, 2020. No further trade date submissions related to this account will be accepted.
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SEC Alert & OPEN for Comment Alert! SEC Proposes Rule to Address Volume-Based Exchange Transaction Pricing for NMS Stocks.
Background:
National securities exchanges (“exchanges”) that trade NMS stocks maintain pricing schedules that set forth the transaction pricing they apply to their broker-dealer members that execute orders on their trading platforms. As self-regulatory organizations under the Exchange Act, exchanges are subject to unique principles and processes that do not apply
Inflation Alert! Social Security Announces 3.2% Benefit Increase for 2024. Today, September CPI reported 3.7% over the past year. The increase eaten by inflation!
Wut Mean?
* Social Security and Supplemental Security Income (SSI) benefits for more than 71 million Americans will increase 3.2 percent in 2024.
* The 3.2 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 66 million Social Security beneficiaries in January 2024. Increased payments to approximately
Vice Chair for Supervision Michael S. Barr: "I expect that the full effects of past tightening are yet to come in the months ahead."
Highlights:
* "I am squarely focused on our dual mandate to promote maximum employment and stable prices for the American people. I strongly agree with the point that Chair Powell has made often, which is that without price stability, the economy does not work for anyone. Price stability is crucial to