Public Responses To The August 2013 Proposed Regulatory Framework For Haircuts On Non-centrally Cleared Securities Financing Transactions

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

Amundi Asset Management

Association of British Insurers

BBVA

Bundesverband Investment und Asset Management (BVI)

Canadian Bankers Association and Investment Industry Association of Canada

Deutsche Bank

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