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The Bank Term Funding Program (BTFP) is experiencing its own MOASS!

Catching up: BTFP usage explodes & program end date announced, credit card debt jumps 17.7% in November, $28 million to whistleblowers, Uyeda new term, Korea punishes illegal short selling, GameStop NFT Project update, and much more!

Hello and Happy New Year, I hope you and yours had a happy, safe, and healthy holiday season! For me, I was able to go away on holiday for the first time in half a decade plus and it was fantastic--great to be able to unplug and recharge in warmth

Deutsche refuses to pay maturity presentments for this issuer’s institutional certificate of deposit.

DTC received notification from Deutsche Bank Trust Company America, the MMI issuing/paying agent for OVERSEA-CHINESE BANKIN (OVR*), Deutsche refuses to pay maturity presentments for this issuer’s institutional certificate of deposit.

* Certificates of Deposit (CDs) are time-bound deposit accounts held at banks that typically offer a fixed interest rate in return for keeping the money deposited for a set period. * Deutsche Bank Trust Company America is acting as an MMI (Money Market Instrument) issuing/paying agent. * As a paying agent, it

FDIC held a CLOSED meeting at 3:12 pm yesterday to consider resolution activities.

New bank failure incoming? FDIC held a CLOSED meeting at 3:12 pm yesterday to consider matters related to the Corporation’s supervision, corporate, and resolution activities.

Back in July a similar meeting was held before it was announced Heartland Tri-State Bank of Elkhart, Kansas, was closed. Things that make you go hmmm... TLDRS: * FDIC held a CLOSED meeting yesterday about resolution matters that the public interest did not require consideration of the matters in a meeting

Final Retirement – INTERACTIVE BROKERS LLC/IBKR SECURITIES SERVICES LLC

Is IBKR okay? Effective Tuesday, October 31, 2023 INTERACTIVE BROKERS LLC/IBKR SECURITIES SERVICES LLC will withdraw from membership in the Netting and Repo Netting of the Government Securities Division.

NETTING AND SETTLEMENT SERVICES The Netting and Settlement service of FICC’s Government Securities Division (GSD) provides centralized, automated clearance and guaranteed settlement of eligible U.S. Treasury bills, notes, bonds, strips and book-entry non-mortgage-backed agency securities. As part of its GCF Repo® service, GSD also processes transactions involving certain

dtcc errror

I have been blocked from accessing dtcc.com. Has anyone else also been blocked by the DTCC and unable to access dtcc.com?

Anyone else get the following?: Supposedly, BlackRock’s IBTC listing was publicly viewable on Monday but is now no longer listed on the Depository Trust and Clearing Corporation website and now this. Interesting! EDIT: For more context, I am unable to access the site via VPN (multiple services) or off

cftc.gov

Weird glitch? cftc.gov appears to be having DNS issues this morning (see no records) but is available at https://cftc.prod.acquia-sites.com/

cftc.prod.acquia-sites.com/ works though I am sure this is some weird glitch but in theory all these other sites should be down if it’s server issues? https://securitytrails.com/list/ip/54.156.221.157 Is also interesting a .gov agency uses godaddy? So, is this a

Implementation of Portfolio Differential Charge and MLA Charge Enhancement

A deep dive into SEC greenlighting FICC's PD & MLA Rule changes & how they could be connected to MOASS.

What is happening?: * The SEC approved proposed rule changes SR-FICC-2023-011 (PD Rule Change - 9/25/23) and SRFICC-2023-012 (MLA Rule Change - 9/27/23) filed by Fixed Income Clearing Corporation (FICC). * The PD Rule Change will add a new margin component, the Portfolio Differential Charge (PD Charge), to