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Final Rule on Special Assessment Pursuant to Systematic Risk Determination

Today the Federal Deposit Insurance Corporation’s Board of Directors by notational vote approved: Final Rule on Special Assessment Pursuant to Systematic Risk Determination

Fact Sheet: Press Release: The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a final rule to implement a special assessment to recover the loss to the Deposit Insurance Fund (DIF) associated with protecting uninsured depositors following the closures of Silicon Valley Bank and Signature Bank. The Federal

Vice Chair for Supervision Michael S. Barr

Fed's Barr: "their highly leveraged positions in Treasury markets are facilitated by very low, or even zero, haircuts on their repo financing; & that demand for this leverage is highly concentrated among a handful of large hedge funds"

Source: https://www.federalreserve.gov/newsevents/speech/barr20231116a.htm Highlights: * "As I mentioned, as yields on deposit alternatives, such as money funds, increased as our tightening cycle took hold, banks found they needed to start paying higher interest rates to retain deposits and pay up for alternative sources of

Commissioner Hester M. Peirce

Peirce on New Conflicts of Interest Rule: "micromanages clearing agency governance in a way that is likely to divert board attention from key issues by focusing it instead on an amorphous set of stakeholders. Accordingly, I dissent."

Source: https://www.sec.gov/news/statement/peirce-governance-20231116 Clearing agencies play a critical role in our markets. Therefore, sound regulation of clearing agencies should be a priority for the Commission. The approach embodied in the final rule, however, micromanages clearing agency governance in a way that is likely to divert

Joint Statement by Vice Chairman Travis Hill and Director Jonathan McKernan on FDIC Workplace Culture

FDIC Alert! After a call out in the WSJ for a 'Toxic atmosphere' full of strip clubs, dick pics, & booze, FDIC releases additional statement announcing opening an Independent Review 'Workplace culture'.

As we covered yesterday, earlier this week, the Wall Street Journal called out the FDIC's toxic work environment: This was also picked up by u/chikaca over at r/Superstonk: Today Chairman Travis Hill and Director Jonathan McKernan are back with an additional statement: This has been a

SEC Chair Gary Gensler

SEC Chair Gary Gensler on SEC's new Conflict of Interest Rules: "I am pleased to support this adoption because it helps foster more resilient clearinghouses."

Source: https://www.sec.gov/news/statement/gensler-statement-clearing-agency-111623 Today, the Commission adopted final rules relating to the governance and use of outside service providers by clearinghouses. I am pleased to support this adoption because it helps foster more resilient clearinghouses. Clearinghouses play a vital role in our capital markets. They

SEC Adopts Rules to Improve Clearing Agency Governance and Mitigate Conflicts of Interest

SEC Adopts Rules to Improve Clearing Agency Governance and Mitigate Conflicts of Interest.

File Number: S7-21-22 Rule Type: Final Release Number: 34-98959 SEC Issue Date: Nov. 16, 2023 Effective Date: 60 days after publication in the Federal Register Fact Sheet: Press Release: The Securities and Exchange Commission has adopted new rules to improve the governance of all registered clearing agencies by reducing the

NSCC Alert! Year 2024 Obligation Warehouse (FTD Grave Yard) RECAPS Schedule Announced.

NSCC Alert! Year 2024 Obligation Warehouse (FTD Grave Yard) RECAPS Schedule Announced.

What is the Obligation Warehouse?: Obligation Warehouse (OW) is a non-guaranteed, automated service of NSCC that facilitates the matching of broker-to-broker ex-clearing trades and provides Members with the ability to track, manage and resolve their failed obligations in real-time. About: OW facilitates the matching of obligations submitted by Members for