News Centre

SIFMA Statement On Housing Finance Reform

Date 28/03/2019

SIFMA issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, on housing finance reform:

“SIFMA has long supported comprehensive reform of the housing finance system that preserves the 30-year mortgage, maintains the immense benefits the TBA market provides to consumers, lenders, and investors, and promotes an active mortgage finance market outside of the government sector.  SIFMA commends the Administration and Congress for pursuing this important initiative and we look forward to working with them as they move toward a more permanent solution.”

Statement Of CFTC Chairman J. Christopher Giancarlo On The Final Rule Amending Regulations On Segregation Of Assets Held As Collateral In Uncleared Swap Transactions (23.700-704)

Date 28/03/2019

This final rule is another Project KISS proposal simplifying and reducing burdens by revisiting our rules based on staff implementation experience and public comment.  Today’s amendments will remove overly burdensome and prescriptive conditions for providing notice to counterparties of their right to segregate initial margin for uncleared swaps and the commercial arrangement between the parties regarding the investment of segregated initial margin.

My Reflections On The Bank Of England Financial Policy Committee's Strategy - Speech By Anil Kashyap, Given At The 50th Anniversary Of The Journal Of Money, Credit And Banking, Frankfurt.

Date 28/03/2019

n a speech in Frankfurt marking the 50th anniversary of the ‘Journal of Money, Credit and Banking’, Anil Kashyap reflects on his time on the Financial Policy Committee (FPC).

Statement Of CFTC Chairman J. Christopher Giancarlo On The Final Rule Regarding Financial Surveillance Examination Program Requirements For Self-Regulatory Organizations (1.52)

Date 28/03/2019

This Project KISS final rule regarding financial surveillance examination program requirements for self-regulatory organizations (SROs) will revise and appropriately limit the scope of a third-party expert’s evaluation of a SRO’s financial surveillance program, and extend the minimum timeframes from three to five years from when a SRO must engage a third-party expert to evaluate its FCM standards for consistency with certain auditing standards.  All of the comments received were in support of this proposal.  I also support it because it will reduce the burdens and costs for SRO examinations, without reducing their effectiveness.  It also more appropriately balances and recognizes the role and capabilities of the Commission’s oversight expertise.

Investing In Ethnicity & Race - Speech By Mark Carney, Given At The Investing In Ethnicity & Race Conference 2019, Bank Of England - Bank Of England Hosts ‘Investing In Ethnicity & Race’ Conference And Signs Race At Work Charter

Date 28/03/2019

The Bank of England today hosted an ‘Investing in Ethnicity & Race’ conference, which the Governor opened. The conference brought together over 100 executives, BAME future leaders, employee networks and inclusion professionals, to discuss and create action plans to eliminate barriers to progression and improve retention for BAME employees.

Statement Of Concurrence By CFTC Commissioner Rostin Behnam On Segregation Of Assets Held As Collateral In Uncleared Swap Transactions; Amendments

Date 28/03/2019

I respectfully concur with the Commodity Futures Trading Commission’s (the “Commission” or “CFTC”) approval of amendments to subpart L of the Commission’s Regulations (“Segregation of Assets Held as Collateral in Uncleared Swap Transactions” consisting of Regulations 23.700 through 23.704), which implement Section 4s(l) of the Commodity Exchange Act (“CEA” or the “Act”).  The amendments to subpart L respond to ongoing concerns and confusion created by the finalization of the CFTC and Prudential Regulator Margin Rules and CFTC interpretive guidance. 

Federal Reserve Board Releases Document Providing Additional Information On Its Stress Testing Program

Date 28/03/2019

The Federal Reserve Board on Thursday released a document providing additional information on its stress testing program. The release of the document follows an announcement in February that the Board had finalized changes intended to increase the transparency of its stress tests without compromising their ability to test the resiliency of the nation's largest banks.

Statement Of CFTC Commissioner Dan M. Berkovitz On Less Is More – Segregation Of Assets Held As Collateral In Uncleared Swap Transactions; Amendments

Date 28/03/2019

The final rule amends CFTC regulations giving certain swap counterparties the right to require initial margin segregation.  I support the amendments.

Remarks At The March 2019 Investor Advisory Committee Meeting, SEC Commissioner Elad L. Roisman, March 28, 2019

Date 28/03/2019

Thank you, Chairman Clayton. And, thank you to all of the Committee members for contributing your time and expertise here today. I also want to thank the SEC staff who support the important work of this Committee.

Statement Of CFTC Commissioner Dan M. Berkovitz On Financial Surveillance Examination Program Requirements For Self-Regulatory Organizations

Date 28/03/2019

I support the targeted amendments to Commission Regulation 1.52 made in today’s final rules regarding third-party expert examinations of self-regulatory organization (“SRO”) financial surveillance programs.  The amendments adopted in these final rules are an outgrowth of the Commission’s experience with Regulation 1.52 since 2013, and they maintain the Commission’s strong commitment to customer protection while modifying certain requirements found to provide no incremental regulatory benefit.  The Commission’s customer protection rules are fundamental to safeguarding customer assets, promoting the safety and soundness of U.S. derivatives markets, and maintaining public confidence in our markets.  I strongly support these customer protection rules.