TBA Guidelines Advisory Council Approves Revisions To Good Delivery Guidelines

SIFMA released the following statement today on a decision the TBA Guidelines Advisory Council issued on changes to the good delivery guidelines:

“The TBA Guidelines Advisory Council met this week to discuss single security and voted on changes to the good delivery guidelines to enable trading of UMBS under these guidelines. The TBA Committee approved by a significant majority the revisions to the good delivery guidelines effective for trades with (1) trade date on or after March 12, 2019, and (2) settlement date on or after June 3, 2019. UMBS issuance by Fannie Mae and Freddie Mac is expected to begin on June 3. As we move towards a single security, SIFMA supports efforts to ensure maximum liquidity in UMBS trading.”

The minutes of the meeting and decision summary are available here: www.sifma.org/tba