News Centre

BIS - Theory Of Supply Chains: A Working Capital Approach

Date 25/01/2023

Summary

Focus 

Production takes time, especially when conducted through long supply chains. Working capital in the form of inventories and receivables bridges the timing mismatch between incurring costs and receiving cash from sales. This paper lays out a theory of supply chains where financial conditions play a pivotal role in the determination of the length of supply chains.

Statement On Prohibiting Conflicts Of Interest In Certain Securitizations, SEC Commissioner Jaime Lizárraga, Jan. 25, 2023

Date 25/01/2023

While “asset-backed securities” may not be a household term, it has direct implications for millions of working households. So much so that in both 2008 and during the Covid-19 pandemic, the Federal Reserve set up emergency loan facilities to prevent interruptions in this market.

BIS: Forecasting Swap Rate Volatility With Information From Swaptions

Date 25/01/2023

Summary

Focus 

We calculate the swap rate model-free implied volatility from over-the-counter swaption quotes for swap rates with a wide cross section of tenors and with a variety of times to expiration. We examine the predictive power of the swap rate model-free implied volatility on future realised volatility of swap rates and compare the in-sample and out-of-sample predictability of the model-free implied volatility with other commonly used predictors.

Statement On Prohibiting Conflicts Of Interest In Securitizations, SEC Chair Gary Gensler, Jan. 25, 2023

Date 25/01/2023

Today, the Commission is considering whether to re-propose rules to prohibit a range of market participants that sell or sponsor asset-backed securities (ABS) from taking positions against those very products. I am pleased to support this re-proposed rule as it fulfills Congress’s mandate to address conflicts of interests in the securitization market, which contributed to the 2008 financial crisis.

MOEX Trade SE Terminal Update

Date 25/01/2023

On 30 January 2023 it is planned to update MOEX Trade SE terminal. Users will be prompted to autoupdate while connecting to the trading and clearing system. Packages for manual installation will be available at FTP server (http://ftp.moex.com/pub/Terminals/ASTS/Equities) starting from 27 January.

Edgewater: New Hires And Opening Of São Paulo Office Highlight Growing Demand For FX Trading Technology And Execution In Latin America And Globally

Date 25/01/2023

Edgewater Markets, a leading provider of technology, trade execution and liquidity aggregation across foreign exchange (FX) and precious metals, today announced extensive new hires and the opening of the firm’s São Paulo office as worldwide demand grows for its FX trading technology and execution services.

ACER Publishes New Framework Guidelines For Joint Scenarios For Gas And Electricity Network Development Planning

Date 25/01/2023

Every two years, the European Network of Transmission System Operators for Electricity (ENTSO-E) and for Gas (ENTSOG) must prepare joint scenarios which set the basis for the future network development planning in the European Union.

CFTC Approves Technical Corrections To Swap Dealer Regulations

Date 25/01/2023

The Commodity Futures Trading Commission unanimously approved a final rule to make non-substantive technical corrections to the CFTC's regulations for swap dealers and major swap participants in Part 23.

European Systemic Risk Board Issues A Recommendation On Vulnerabilities In The Commercial Real Estate Sector

Date 25/01/2023

The European Systemic Risk Board (ESRB), the EU’s macroprudential overseer, has issued a general recommendation on risks linked to vulnerabilities in the commercial real estate (CRE) markets in the EU, Iceland, Liechtenstein and Norway. The recommendation calls for improved monitoring of such risks to the financial system, along with both micro- and macroprudential policy measures to address identified vulnerabilities where necessary.

Transcend Appoints Advisory Board Members To Support Global Expansion

Date 25/01/2023

Transcend, a leading provider of analytics, optimization, and automation for collateral, liquidity, and funding, has appointed senior advisory board members to support its accelerating global expansion.