Dismal's Smacks

🌙 ☀️

Sign in Subscribe

Latest

SEC Alert! SEC proposes (OPEN for comment) to continue collecting information for “Rule 15c3-1”, which requires brokers-dealers to have at all times sufficient liquid assets to meet their current liabilities, particularly the claims of customers.

https://public-inspection.federalregister.gov/2023-06628.pdf Rule 15c3-1 Requires brokers-dealers to have at all times sufficient liquid assets to meet their current liabilities, particularly the claims of customers. The rule facilitates the monitoring of the financial condition of broker-dealers by the Commission and the various self-regulatory organizations. * It is estimated

SEC Alert! Chair Gary Gensler: "I am pleased to support the President’s FY 2024 request of $2.436 billion for the SEC, to put us on a better track for the future"

"FY 2023 funding for the first time brought the agency’s staffing back above where we were seven years ago." Source: https://www.sec.gov/news/testimony/gensler-testimony-subcommittee-financial-services-and-general-government-032923 Highlights: Full-time equivalents (FTEs) at the SEC and in individual Divisions. Overall SEC FTEs include all Offices and Divisions. * The

FDIC sends supplemental materials to Consolidated Reports of Condition & Income for 1st Quarter 2023 for Held-to-Maturity Assets (banks hold -$620 billion Unrealized losses as of 4th quarter).

"Amending to retroactively report a debt security in another category without evidence is inappropriate" Unrealized losses on available–for–sale and held-to-maturity securities totaled $620 billion in the fourth quarter Remarks by Chairman Martin J. Gruenberg before the Committee on Banking, Housing, and Urban Affairs * Unrealized losses on

US President says banking crisis 'not over yet'

Source: https://www.reuters.com/markets/us/biden-says-banking-crisis-not-over-yet-2023-03-28/ Reddit Post

NSCC, FICC-GOVE, DTC, FICC-MBS Alert! Updates to the Clearing Agency Security Valuation Framework: The last 4 pages are [REDACTED].

From the NSCC, FICC-GOV, DTC, FICC-MBS updates to the Clearing Agency Security Valuation Framework:

"Clearing Agencies would consider whether the Pricing Vendor actually provides accurate and timely pricing data as opposed to whether the Pricing Vendor is “able to provide” accurate and timely data." Reddit Post

NSCC, FICC-GOVE, DTC, FICC-MBS Alert! Updates to the Clearing Agency Security Valuation Framework. The proposed rule change was effective upon filing but will not become operative for 30 days after the date of the filing.

Sources NSCC: https://www.dtcc.com/-/media/Files/pdf/2023/3/28/a9283.pdf FIC-GOV: https://www.dtcc.com/-/media/Files/pdf/2023/3/28/GOV1451-23.pdf DTC: https://www.dtcc.com/-/media/Files/pdf/2023/3/28/18341-23.pdf FICC-MBS: https://www.dtcc.com/-/media/