What is SFTR?

New Link Editor Regulation

Following the financial crisis, both securities lending and repurchase transactions came under increased scrutiny as they were perceived to have contributed to the build-up of hidden leverage in the market. Regulators sought to introduce Securities Financing Transaction Regulation (SFTR), covering three key requirements: transaction reporting, disclosure obligations and collateral reuse obligations. SFTR is a sweeping mandatory change for the securities …

Another Nudge for Benchmark Reform…

New Link Editor Market and Credit Risk

IBOR transition in Europe has taken another step forward. On Monday, May 6th, the European Money Markets Institute (EMMI), which is the administrator of both the EONIA and EURIBOR benchmarks, applied to the Belgian Financial Services and Markets Authority (FSMA) for authorisation to compute & publish “reformed” Euribor. EONIA and EURIBOR are two of the main euro-denominated measures of money …

Benchmark Transition is Coming…a Brief Guide for Corporate Treasurers

New Link Editor Market and Credit Risk

1.  A Little Context Within the next two and a half years, global financial markets will see lasting changes made to some of their oldest interest rate benchmarks. These benchmarks will be either retired or reformed, replaced either by a series of nearly risk-free rates (RFRs), or reformed benchmarks. We are of course talking about Inter-Bank Offered Rates (IBORs), the most common of …

Simon Hirtenstein Speaks at Global Custodian Forum

New Link Editor Project Management

After the Global Custodian Forum, we are delighted to share with you comments from Simon Hirtenstein, our Asset Servicing Practice Lead. “I attended and spoke at the Global Custodian Forum in the salubrious surroundings of Banking Hall. First of all, many thanks to the event organisers and venue staff who put on a fantastic event. The day was full of …