EC expected to publish its final non-cleared margin rules on October 4
Areas of focus should include collateral supply, reuse and circulation
This special issue of The Journal of Financial Market Infrastructures on collateral provides a collection of papers that are not fully in sync with traditional thinking in policy and academic circles, or are under-researched.
This paper attempts to quantify the “effective” supply of collateral assets in Australia by applying a measure of supply that adjusts outstanding issuance for two important features of the collateral market.
This paper focuses on the use of high-quality assets for collateral purposes.
Mobilization of collateral in Germany as a reflection of monetary policy and financial market developments
This paper describes and analyzes developments in the market value of marketable assets submitted as collateral in Germany and the Eurosystem against the backdrop of the financial market crisis.
This paper looks at securities-lending, derivatives and prime-brokerage markets as suppliers of collateral.
The authors provide theoretical microfoundations to understand the impact of monetary policy on markets characterized by collateral reuse.
The authors model the asymmetry between collateral values to the parties in the collateral chain. The paper highlights that collateral reuse can be socially beneficial if the costs of misallocation are not significant.
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Banks pushing clients to remove costly interest rate floors in collateral agreements
New research finds no compelling economic rationale for central clearing
Dealers demanding compensation for extra funding costs
Traders accused of self-interest in negative rate floor discussions
Isda urges US tax officials to postpone rule treating certain payments as loans
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Counterparties will be able to offset extra collateral calls, says source close to EBA
New margin approach threatens hedge accounting status, could hurt effectiveness
Opportunity for using distributed ledgers in OTC market discussed at meeting held by CFTC
Collateral should cut exposure, says BoE, citing need to ensure "continuity" of clearing business
Review highlights concerns over impact of clearing on nonfinancials
Esma move on bank guarantees “risks damaging” liquidity, traders say
Aussie super funds face higher dealer charges because of collateral rules
Goldman takes top spot thanks to long-standing commitment to insurance clients