Dismal's Smacks

🌙 ☀️

Sign in Subscribe

Latest

NSCC, FICC, DTC Alert! Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Update the Clearing Agency Securities Valuation Framework. Entire Exhibit is [REDACTED]

Sources: SR-NSCC-2023-00334-97280 Apr. 11, 2023 Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Update the Clearing Agency Securities Valuation Framework Comments due: 21 days after publication in the Federal Register Additional Materials: Exhibit 5 SR-FICC-2023-00434-97283 Apr. 11, 2023 Notice of Filing and Immediate Effectiveness of a

Remarks of James Martin, Acting Director of the Office of Financial Research (shares the OPPOSITE sentiment of Hester M. Peirce's "Regulators must constrain their appetite for data.")

stating: "Both financial regulators and market participants need access to high-quality financial data." Remarks of James Martin, Acting Director of the Office of Financial Research, at the RegTech 2023 Data Summit Source: https://www.financialresearch.gov/public-appearances/2023/04/11/remarks-of-james-martin-at-regtech-summit/ Highlights: "If I were asked to

Whistleblower Alert! The Claims Review Staff (“CRS”) issued a Preliminary Determination recommending (“Claimant 1”) receive a whistleblower award of about $1 million.

Claimant 1’s tip was the initial source of the underlying investigation and caused the opening of the investigation. Source: https://www.sec.gov/rules/other/2023/34-97285.pdf Background: * (“Firm”), a registered broker-dealer * Claimant 2 was not aware that he/she could submit an award claim based on Commission

SEC Alert! Commissioner Hester M. Peirce in speech: "Regulators must constrain their appetite for data."

"The goal should be to collect only the data regulators need to perform their limited statutory missions, not all data or even all the data it might come in handy someday to have." Escaping the Data Swamp: Remarks before the RegTech 2023 Data Summit Commissioner Hester M. Peirce

Report to Congress Pursuant to Section 13(3) of the Bank Term Funding Program (AKA collateral never losing value). As of 3/31/23: Total outstanding amount of all advances under the BTFP was $64,595,880,000.

Source: https://www.federalreserve.gov/publications/files/13-3-report-btfp-20230411.pdf Bank Term Funding Program: The Bank Term Funding Program (BTFP) was created to support American businesses and households by making additional funding available to eligible depository institutions to help assure banks have the ability to meet the needs of all their

"Idiosyncratic Factors help explain fails": Settlement fails in corporate securities increased sharply in 2022, reaching levels not seen since the 2007-09 financial crisis.

As a fraction of trading volume, fails that involve primary dealers reached an all-time high in the week of March 23, 2022. Good morning, hoping to call out a bit of data that I buried the lead on in a larger post overnight. About the image: Authors’ calculations, based on

Federal Reserve Report Alert! Settlement fails in corporate securities increased sharply in 2022, reaching levels not seen since the 2007-09 financial crisis.

As a fraction of trading volume, fails that involve primary dealers reached an all-time high in the week of March 23, 2022. The 2022 Spike in Corporate Security Settlement Fails Michael J. Fleming, Or Shachar, and Peter Van Tassel Source: https://libertystreeteconomics.newyorkfed.org/2023/04/the-2022-spike-in-corporate-security-settlement-fails/ Settlement fails in