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Federal Reserve Board Releases Results Of Survey Of Senior Financial Officers At Banks About Their Strategies And Practices For Managing Reserve Balances

Date 15/12/2023

The Federal Reserve Board on Friday released results of a survey of senior financial officers at banks about their strategies and practices for managing reserve balances. The Senior Financial Officer Survey is used by the Board to obtain information about banks' reserve balance management strategies and practices, their deposit pricing strategies, their expectations for potential changes in both the size and composition of their balance sheets, and their views regarding Federal Reserve facilities. The most recent survey was conducted in collaboration with the Federal Reserve Bank of New York between September 22, 2023, and October 6, 2023, and includes responses from banks that held a bit more than three quarters of total banking system reserve balances at the time of the survey.
CME Group Announces 2024 Annual Meeting Date

Date 15/12/2023

CME Group, the world's leading derivatives marketplace, today announced it will conduct its 2024 annual meeting of shareholders at 10:00 a.m. Central Time on Thursday, May 9, 2024. Additional information will be provided in the company's proxy statement.
The EBA Publishes Guidance To Assess The Knowledge And Experience Of The Management Or Administrative Organ Of A Credit Servicer

Date 15/12/2023

The European Banking Authority (EBA) today published its final Guidelines on the assessment of adequate knowledge and experience of the management or administrative organ of a credit servicer as a whole, under the Non-Performing Loans Directive. The Guidelines aim at ensuring that the organs are suitable to conduct the business of the credit servicer in a competent and responsible manner.
CFTC Approves Proposed Amendments To Regulations Regarding Real-Time Public Reporting And Swap Data Recordkeeping And Reporting Requirements

Date 15/12/2023

The Commodity Futures Trading Commission today announced the approval of a proposed rule to revise CFTC regulations regarding real-time public reporting and swap data recordkeeping and reporting. These proposed measures are part of the agency’s continued efforts towards international data harmonization and to ensure the CFTC continues to receive accurate, complete, and high-quality data on swap transactions.
Statement Of CFTC Commissioner Kristin N. Johnson Regarding Notice Of Proposed Rulemaking Making Amendments To Parts 43 And 45 Swap Data Reporting Technical Specifications

Date 15/12/2023

At its peak at the end of 2007, the notional amount outstanding in the credit default swaps market is estimated to have reached a staggering $61.2 trillion.[1] In 2008, the near collapse of the largely bespoke over-the-counter (OTC) swaps market, most notably the credit default swap market, was a precipitating cause of the global financial crisis,[2] which the U.S. Government Accountability Office estimates resulted in roughly $10 trillion in losses, including large declines in employment and household wealth, reduced tax revenues from lower economic activity, and lost output.[3] An exemption from regulation for OTC swaps trading in bilateral markets obscured massively excessive risk-taking and undermined the integrity of global markets. The lack of reporting requirements for swap transactions left regulators with limited visibility into the OTC swaps market.

Report From FINRA Board Of Governors Meeting – December 2023 - Board Approves Rule Proposals And FINRA’s 2024 Budget, Previews 2024 FINRA Annual Regulatory Oversight Report

Date 15/12/2023

FINRA’s Board of Governors held its fifth and final meeting of the year on December 6-7. During the meeting, the Board approved two rule proposals and FINRA’s 2024 proposed budget, and continued discussions around FINRA’s financials, including expenses and the drawdown of reserves. The Board also appointed new members to the National Adjudicatory Council (NAC) and the Small Firm Advisory Committee (SFAC), and previewed the 2024 FINRA Annual Regulatory Oversight Report.
The EBA Proposes A Voluntary EU Green Loan Label To Help Spur Markets

Date 15/12/2023

The European Banking Authority (EBA) today published its response to the European Commission’s call for advice on green loans and mortgages. The EBA proposes the introduction of a voluntary EU label for green loans based on a common EU definition and the integration of the concept of green mortgage and its key sustainability features in the Mortgage Credit Directive.
The EBA Consults On Draft Technical Standards On Market And Counterparty Credit Risk As Part Of Its Roadmap For The Implementation Of The Banking Package In The EU

Date 15/12/2023

The European Banking Authority (EBA) today launched for consultation amendments to its Regulatory Technical Standards (RTS) on the fundamental review of the trading book (FRTB), and to its RTS on the standardised approach for counterparty credit risk (SA-CCR). Both RTS are part of the roadmap on the Banking Package and aim to align the existing RTS with the Capital Requirements Regulation (CRR3). The consultation runs until 14 March 2024.
SEC Issues Staff Report On Accredited Investor Definition

Date 15/12/2023

The Securities and Exchange Commission today issued a staff report on the accredited investor definition. The Dodd-Frank Wall Street Reform and Consumer Protection Act directs the Commission to review the accredited investor definition as it relates to natural persons every four years to determine whether the definition should be modified or adjusted. The Staff previously reviewed the definition in 2015 and in 2019 (as part of the Concept Release on Harmonization of Securities Offering Exemptions). Staff from the Divisions of Corporation Finance and Economic and Risk Analysis prepared the report in connection with this third review of the definition.
BIS: Foreign Investor Feedback Trading In An Emerging Financial Market

Date 15/12/2023

We study the relationship between the trading behaviour of foreign investors, different types of local investors and returns in foreign exchange, fixed income and equity markets of an emerging market economy (EME). We investigate which strategy best explains foreign investor trading behaviour, whether foreign investors bring unique information to local financial markets, and what impact they have on local asset returns and local investor trading.