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Report From FINRA Board of Governors Meeting – September 2020 - Board Approves Two Rulemaking Items, Meets With External Stakeholder

Date 18/09/2020

FINRA’s Board of Governors met virtually on September 9 and 10. During the meeting, the Board approved two rulemaking items, and received updates on FINRA’s operations, including the Examination and Risk Monitoring Program Transformation and the Market Regulation Enforcement program.

CFTC Commitments Of Traders Update

Date 18/09/2020

The current reports for the week of September 15, 2020 are now available.

Federal Reserve Board Updates Frequently Asked Questions To Clarify The Board And Department Of Treasury’s Expectations Regarding Lender Underwriting For The Main Street Lending Program

Date 18/09/2020

The Federal Reserve Board on Friday updated its frequently asked questions (FAQs) to clarify the Board and Department of Treasury's expectations regarding lender underwriting for the Main Street Lending Program. The revised FAQs emphasize that lender underwriting should look back to the borrower's pre-pandemic condition and forward to their post-pandemic prospects. The FAQs also clarify supervisory expectations for lenders originating Main Street loans.

CFTC Chairman Tarbert In WSJ: A New Pact Will Help Derivatives Markets

Date 18/09/2020

Excerpts from Chairman Tarbert’s Op-ed with the EU’s Valdis Dombrovskis in the Wall Street Journal

“As leaders of the commissions that regulate derivatives markets in the EU and U.S., we are both committed to establishing a harmonious relationship that achieves shared regulatory objectives while affording appropriate deference to home-country authorities.

Moscow Exchange: Risk Parameters Change On Securities Market

Date 18/09/2020

CCP NCC will sets the following Market risk rates on Securities market starting from September 21, 2020:

Federal Reserve Board Issues Report On The Economic Well-Being Of U.S. Households

Date 18/09/2020

Data collected to supplement the Federal Reserve Board's seventh annual Survey of Household Economics and Decisionmaking showed that U.S. families were faring better financially in July than in April, but many still faced uncertainty regarding layoffs and prospects for returning to work.

Nigerian Stock Exchange Weekly Market Report For September 18th 2020

Date 18/09/2020

A total turnover of 1.139 billion shares worth N12.692 billion in 17,109 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 1.226 billion shares valued at N10.842 billion that exchanged hands last week in 19,529 deals.

CFTC: Mexican Meat Processor To Pay Fine For Violating Cattle Futures Speculative Position Limits

Date 18/09/2020

The Commodity Futures Trading Commission today issued an order filing and settling charges against Sukarne SA de CV, a Mexico-based meat processor, for violating live cattle futures speculative position limits. The order requires Sukarne to pay a $35,000 civil monetary penalty. This case is brought in connection with the CFTC’s Livestock Markets Task Force.

BIS: Credit Supply Driven Boom-Bust Cycles

Date 18/09/2020

Summary

Focus

The housing market in the US (and in many other countries) experienced a boom-bust cycle during the last two decades. Real house prices increased by more than 30 percent between 1995 and 2006, and then dropped by a similar amount until 2011. The financial sector and the rest of the economy also experienced a boom-bust cycle. This paper studies the role of credit supply in driving these dynamics. More broadly, we argue that shifts in credit supply can generate large economic fluctuations and can have significant real effects.

EBA Flags To The EU Commission Elements Of The Definition Of Credit Institution And Aspects Of The Scope Of Authorisation

Date 18/09/2020

The European Banking Authority (EBA) published today an Opinion addressed to the European Commission to raise awareness as to the opportunity to clarify certain issues relating to the definition of credit institution in the upcoming review of the Capital Requirements Regulation (CRR) and Capital Requirements Directive (CRD). Such clarifications would be beneficial to the development of a truly uniform Single Rulebook and ultimately to a deeper market integration of banking and financial services across the EU.