Securities lending CCPs are at the intersection of major changes to liquidity and leverage in financial markets. Aside from requirements for increasing bank capitalization, Basel III is introducing new liquidity metrics such as the Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR). These shake-ups have already begun to change relationships between borrowers and […]
Tag Archives | Securities Lending
Wednesday News Roundup: repo failures, Germany collateralizes, bank benefits from collateral (Finadium subscribers only)
Some new and compelling news stories over the last week spark up talk about shifting collateral needs, and more importantly, fundamental changes to bond market liquidity that we could impact securities finance in a profound way. Here is our take:
Finadium has released its seventh annual survey of fund managers and insurance companies in securities lending. This year’s survey tackles some challenging topics including the value of agent lender indemnification in a CCP environment.
Beneficial owners are in a tough spot with securities lending CCPs. For years they have thought that CCPs were unattractive – loss of counterparty control, uncertain operations and too much margin were deal killers. Agent lenders were generally supportive of this view. But the market has fundamentally changed due to regulations, and that means that […]
New data on why and when for collateral transformations in securities lending (Finadium subscribers only)
The latest Finadium survey of asset managers shows some new data points on the collateral transformation trade. We are paying close attention to this important topic. This article is part of the Finadium research subscription.
This Finadium research finding tackles the interesting idea of buy-side firms developing their own mechanisms for contingent liquidity. A longer version of this article originally appeared in Calypso Intelligence, June 2014, and is reprinted with permission.
We at Finadium are working on some big picture topics these days. For the benefit of research subscribers, here are three things we think you need to be actively thinking about and two you can put on the back burner.
The US Financial Stability Oversight Council has released its 2014 Annual Report. This document contains some important forward-looking risks for market professionals in securities finance and collateral management. We highlight the major points below.
Finadium has released a new discussion report to focus on solutions to current challenges in the repo and securities lending markets.
Promontory paper on CCPs and indemnification puts one question to bed while raising many tougher ones
In a follow on report from Promontory Financial Group sponsored by SL-x, the firm clarifies a position first stated in their earlier report on capital benefits and securities lending CCPs. The new report definitively answers a question about capital savings when agent lenders are providing counterparty default indemnification. But that’s just the opener for the […]
September 18, 2014
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September 22, 2014
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July 24th, 2014
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