FSB published a set of frequently asked questions (FAQs) to promote a common approach and to further help in the national implementation of the standards and processes for collecting and aggregating global data on securities financing transactions (SFT Data Standards). The FAQs are based on practical issues raised by the FSB member jurisdictions in their implementation of the SFT Data Standards as well as by BIS as the global aggregator. As market practices evolve, the Data Experts Group of FSB will continue to update the FAQs as needed going forward.
Securities financing transactions, such as securities lending and repurchase agreements, play a crucial role in supporting price discovery and secondary market liquidity for a wide variety of securities. However, such transactions can also be used to take on leverage as well as maturity and liquidity mismatched exposures and can, therefore, pose risks to financial stability. Building on the FSB policy recommendations (published in 2013) to address financial stability risks from the securities financing transactions, FSB developed the SFT Data Standards in November 2015. Based on the SFT Data Standards, FSB, through its Data Experts Group, has been working on the global data collection and aggregation, by developing detailed operational arrangements, such as the reporting guidelines, and facilitating national implementation. BIS, leveraging on its expertise in managing international banking and financial statistics, has agreed to provide operational support for the collection and potential dissemination of aggregated securities financing data.
Keywords: International, Banking, Securities, Securities Financing Transactions, SFT Data Standards, FAQ, Basel, BIS, FSB
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