Accounting fix brings FICC agent clearing a step closer
SEC accepts Sifma interpretation, but firms still need their own opinion and capital clarity
Questions swirling around the accounting and balance sheet treatment of a crucial US Treasuries clearing structure at the Fixed Income Clearing Corporation (FICC) have been partly resolved, according to market participants.
“This is essentially the outcome that FICC wanted,” says a senior repo trader at a global bank.
A specialist at one of the global accounting firms agrees: “My understanding is
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