General Information & Client Service
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
November 22, 2017

Stacey Schreft, the Deputy Director for Research and Analysis at the OFR, updated the FSOC on the bilateral repo collection initiative of OFR at the meeting of the principals of the FSOC. In collaboration with the New York FED and the Federal Reserve System, OFR updated the FSOC on plans for a permanent repo data collection.

Stacey Schreft highlighted, “We intend to collect data in two stages. The first will focus on cleared repo transactions. In the second, we will collect data on unclear bilateral repo transactions. We intend to issue a Notice of Proposed Rulemaking on a cleared repo collection in the first half of 2018.” According to Stacey, these collections are critical for three reasons:

  • They will fill a major data gap in securities financing transactions. From the data pilot, it is estimated that bilateral repo activity constitutes about half of the repo funding of major dealers and the majority of the funding that dealers provide to others. Monitoring the tenor, haircuts, and rates in such repos across a broad range of collateral will help us understand the functioning of, and spot stress in, asset and funding markets.
  • The interest rate information that is collected on cleared repo transactions is critical for the production of the Secured Overnight Financing Rate (SOFR) selected by the Alternative Reference Rate Committee, as an alternative to London Interbank Offered Rate or LIBOR. The cleared repo data will be used immediately in the publication of the SOFR. Subsequently collecting data on unclear bilateral repo transactions will ensure the availability of comprehensive data for rate production as markets evolve.
  • By shedding light more broadly on the specifics of repo funding, these collections will support other FSOC initiatives such as understanding dynamics that affect liquidity in Treasury markets.


Related Links: Update on Bilateral Repo Collection

Keywords: Americas, US, Banking, Bilateral Repo Collection, Repo Transactions, FSOC, OFR

Related Insights
News

BCBS Finds Liquidity Risk Management Principles Remain Fit for Purpose

BCBS completed a review of its 2008 Principles for sound liquidity risk management and supervision. The review confirmed that the principles remain fit for purpose.

January 17, 2019 WebPage Regulatory News
News

HKMA Urges Local Banks to Start Working on FRTB Implementation

HKMA announced that it plans to issue a consultation paper on the new market risk standard in the second quarter of 2019.

January 17, 2019 WebPage Regulatory News
News

EBA Finalizes Guidelines for High-Risk Exposures Under CRR

EBA published the final guidelines on the specification of types of exposures to be associated with high risk under the Capital Requirements Regulation (CRR). The guidelines are intended to facilitate a higher degree of comparability in terms of the current practices in identifying high-risk exposures.

January 17, 2019 WebPage Regulatory News
News

MAS Guidelines on Risk Mitigation Requirements for OTC Derivatives

MAS published guidelines on risk mitigation requirements for non-centrally cleared over-the-counter (OTC) derivatives contracts.

January 17, 2019 WebPage Regulatory News
News

BoE Publishes the Schedule for Statistical Reporting for 2019

BoE published the updated schedule for statistical reporting for 2019. The reporting institutions use the online statistical data application (OSCA) to submit statistical data to BoE.

January 16, 2019 WebPage Regulatory News
News

PRA Delays Final Direction on Reporting of Private Securitizations

PRA and FCA have delayed the issuance of final direction, including the final template, on reporting of private securitizations, from January 15, 2019 to the end of January 2019.

January 15, 2019 WebPage Regulatory News
News

SNB Updates Forms on Supervisory Reporting for Banks

SNB published Version 1.7 of reporting forms (AUR_U, AUR_UEA, AUR_UES, AURH_U, AUR_K, AUR_KEA, and AURH_K) and the related documentation for supervisory reporting on an individual and consolidated basis.

January 15, 2019 WebPage Regulatory News
News

BCBS Finalizes Market Risk Capital Framework and Work Program for 2019

BCBS published the final framework for market risk capital requirements and its work program for 2019. Also published was an explanatory note to provide a non-technical description of the overall market risk framework, the changes that have been incorporated into in this version of the framework and impact of the framework.

January 14, 2019 WebPage Regulatory News
News

EBA Single Rulebook Q&A: First Update for January 2019

EBA published answers to 13 questions under the Single Rulebook question and answer (Q&A) updates for this week.

January 11, 2019 WebPage Regulatory News
News

PRA Proposes to Amend Supervisory Statement on Credit Risk Mitigation

PRA published the consultation paper CP1/19 that is proposing changes to the supervisory statement (SS17/13) on credit risk mitigation.

January 10, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 2473