The FSB published in August 2013 its report entitled Policy Framework for Addressing Shadow Banking Risks in Securities Lending and Repos, that included consultative proposals on minimum standards for methodologies to calculate haircuts on non-centrally cleared securities financing transactions and a framework of numerical haircut floors (in Annex 2 of the report).
The FSB indicated that it would welcome comments on the consultative proposals by 28 November 2013. These comments are available below.
The FSB wishes to thank those who have taken the time and effort to express their views, which will serve as an input to its work to finalise policy recommendations in the second quarter of 2014.
Alternative Investment Management Association
Association of British Insurers
Bundesverband Investment und Asset Management (BVI)
Canadian Bankers Association and Investment Industry Association of Canada
European Fund and Asset Management Association
French Banking Federation (Fédération Bancaire Française)
German Banking Industry Committee (Die Deutsche Kreditwirtschaft)
Global Financial Markets Association (GFMA) and Institute of International Finance (IIF)
ICMA European Repo Council and International Securities Lending Association
International Banking Federation
Investment Company Institute (ICI) and ICI Global
Japan Financial Markets Council
Japan Securities Dealers Association
Life Insurance Association of Japan
The Luxembourg Bankers' Association
The Risk Management Association