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The Treasury Market: Improving Transparency And Stability, SEC Commissioner Jaime Lizárraga, Dec. 13, 2023

Date 13/12/2023

The $26 trillion U.S. Treasury market plays a critical role in the global economy. Market participants worldwide depend on it for investing, collateral, and hedging, and as a benchmark for the pricing of other securities. It also serves as the Federal Reserve’s main tool for monetary policy.

SEC: Credit Suisse Entities To Pay $10 Million For Providing Prohibited Mutual Fund Services - New Jersey Court Order Caused Disqualification Of Certain Credit Suisse Entities

Date 13/12/2023

The Securities and Exchange Commission today announced that Credit Suisse Securities (USA) LLC and two affiliated Credit Suisse entities (collectively, the Credit Suisse Entities) agreed to pay more than $10 million to settle the SEC’s charges that they provided prohibited underwriting and advising services to mutual funds.

Robinhood Markets, Inc. Reports November 2023 Operating Data

Date 13/12/2023

Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) today reported selected monthly operating data for November 2023:

Opening Statement Of CFTC Commissioner Kristin N. Johnson Regarding The Open Commission Meeting On December 13, 2023

Date 13/12/2023

Good morning. Thank you, Mr. Chairman.

It is a pleasure to welcome everyone joining us for this monumental meeting today. We will consider two proposed rules that represent the Commission taking invaluable steps toward addressing the most pressing issues in our markets—issues that are at the frontier of an undeniable transformation in global financial markets.  We will also consider an application for registration of a derivatives clearing organization interested in enabling digital asset trading in our markets. This application immediately illustrates the urgent need for swift, decisive action and a clear direction of travel from the Commission on evolving market structures enabling the trading of crypto or any novel asset class as well as traditional derivatives products.

Careening Toward Clearing: Statement On Rules To Improve Risk Management In Clearance And Settlement And To Facilitate Additional Central Clearing For The U.S. Treasury Market, SEC Commissioner Hester M. Peirce, Dec. 13, 2023

Date 13/12/2023

Thank you, Mr. Chair. A government that routinely runs substantial deficits needs to be cautious when structuring the rules for the markets in which it borrows. Additional central clearing in the U.S. Treasury market may be one way to strengthen the market to ensure that it can absorb the ever-increasing Treasury issuances, but how we get to increased central clearing matters. The recommendation that the Commission is considering today would commit the market to what may be a reckless ride down the path to mandatory clearing, with no brakes or off-ramps in the event the market takes a bad turn. Accordingly, I cannot support it.

IMFC Selects Saudi Arabia’s Minister Of Finance Mohammed Aljadaan As New Chair

Date 13/12/2023

The members of the International Monetary and Financial Committee (IMFC), the policy advisory body of the Board of Governors of the International Monetary Fund (IMF), have selected Saudi Arabia’s Minister of Finance, Mr. Mohammed Aljadaan, as Chair of the Committee for a term of three years, effective January 4, 2024. Mr. Aljadaan will succeed Ms. Nadia Calviño, Spain’s First Vice President and Minister for Economic Affairs and Digital Transformation, who has chaired the IMFC since January 3, 2022.

Federal Reserve Issues FOMC Statement

Date 13/12/2023

Recent indicators suggest that growth of economic activity has slowed from its strong pace in the third quarter. Job gains have moderated since earlier in the year but remain strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated.

Federal Reserve Board And Federal Open Market Committee Release Economic Projections From The December 12-13 FOMC Meeting

Date 13/12/2023

The attached tables and charts released on Wednesday summarize the economic projections made by Federal Open Market Committee participants in conjunction with the December 12-13 meeting.

Opening Statement Of CFTC Commissioner Caroline D. Pham Regarding CFTC Open Meeting On December 13, 2023

Date 13/12/2023

For our third open meeting of 2023, I would like to start by thanking the staff rulemaking teams here with us this morning. I appreciate your time and dedication and look forward to the presentations today. I’d also like to thank the rest of the CFTC staff, the Chairman, my fellow Commissioners, the work of Commissioner Goldsmith Romero’s Technology Advisory Committee, and the work of the other CFTC advisory committees in informing some of the important issues that we’re going to be addressing today.

US Office Of The Comptroller Of The Currency Reports Third Quarter 2023 Bank Trading Revenue

Date 13/12/2023

The Office of the Comptroller of the Currency (OCC) reported cumulative trading revenue of U.S. commercial banks and savings associations of $13.2 billion in the third quarter of 2023. The third quarter trading revenue was $470 million, or 3.4 percent, less than in the previous quarter and $474 million, or 3.7 percent, more than in the third quarter of 2022.