Sign in Subscribe

Latest

FICC,DTC,NSCC Alert! Notice of Filing and Immediate Effectiveness of Proposed Rule [REDACTED] to Amend the Clearing Agency Model Risk Management Framework.

FICC,DTC,NSCC Alert! Notice of Filing and Immediate Effectiveness of Proposed Rule [REDACTED] to Amend the Clearing Agency Model Risk Management Framework.

They state it is to better manage risk, despite believing that their existing model risk assessment metrics continue to be sufficient measures. https://www.sec.gov/rules/sro/ficc/2023/34-97890.pdf Wut mean? * The proposed rule change pertains to the amendment of the Clearing Agency Model Risk Management Framework
dismal-jellyfish ๐Ÿงฑ Market Reform
Liquidity Fairy Alert! Bank Term Funding Program usage rose this week ($102.305B vs $101.959B on 7/5), marking the 6th straight week over $100B. It's looking more and more like there's an over-reliance on Fed Funding. Could this be a moral hazard?

Liquidity Fairy Alert! Bank Term Funding Program usage rose this week ($102.305B vs $101.959B on 7/5), marking the 6th straight week over $100B. It's looking more and more like there's an over-reliance on Fed Funding. Could this be a moral hazard?

Good afternoon Superstonk, I hope everyone's Thursday is going well! Borrowing from the Bank Term Funding Program is back on the increase! What we are monitoring: 1. Bank Term Funding Program (BTFP) 2. Discount Window/Primary Credit 3. "Other Credit Extensions" I hope to shed light
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics

Federal Reserve Alert! St. Louis Fedโ€™s Bullard says has stepped down from his post immediately, will leave in August.

Source: https://www.stlouisfed.org/news-releases/2023/07/13/st-louis-fed-president-jim-bullard-announces-he-is-stepping-down TLDRS: * James Bullard, the president and CEO of the Federal Reserve Bank of St. Louis, announced that he will be leaving the Bank effective Aug. 14, 2023. He will become the inaugural dean of the Mitchell E. Daniels, Jr. School
dismal-jellyfish ๐Ÿ“ฐ News

SEC Alert! SEC Requests Comment Request Extension For Mandatory Form N-PX Amendments Require Detailed Disclosure of Proxy Voting and Loaned Shares. 73% of 'Funds' Voted Against Increasing Shares 300M to 1B. How Many Shares Were Loaned & NOT Counted?

https://public-inspection.federalregister.gov/2023-14998.pdf Wut mean? * On November 2, 2022, the SEC adopted rule and form amendments to enhance the information funds report on Form N-PX and make that information easier to analyze. * The amendments require funds and institutional investment managers to identify voting matters using language from
dismal-jellyfish ๐Ÿงฑ Market Reform

Federal Reserve Alert! Governor Christopher J. Waller in Speech: "monetary policy works mostly by influencing the public's view of financial and economic conditions well into the future, affecting spending and investment decisions."

So much for the invisible hand, he prefers to just guide it? https://www.federalreserve.gov/newsevents/speech/waller20230713a.htm Highlights: On Recent Policy Actions Waller supported the decision to keep the policy rate (the interest rate at which banks lend to each other) the same in June. * He felt
dismal-jellyfish ๐Ÿ“ˆ Macroeconomics

SEC Alert! SEC Commissioner Hester M. Peirce on Today's Money Market Fund Reforms: "I could have supported the final money market fund rule if we had been equally prudent with respect to other elements of the rule." "Accordingly, I will be voting no today

https://www.sec.gov/news/statement/peirce-statement-air-dancers-flies-adoption-latest-money-market-fund-reforms Thank you, Chair Gensler. ย I am pleased that we are removing the tie between liquid asset thresholds and fees and gates and that we are not moving forward with swing pricing. ย I could have supported the final money market fund rule if we
dismal-jellyfish ๐Ÿ“ฐ News