June 9 2020
Our annual Finadium Investors in Securities Lending conference was rebooted online this year. Finadium subscription clients can access the webinar replay of the Current Dynamics in the Securities Lending Industry panel here. Sponsored by Brown Brothers Harriman, EquiLend, J.P. Morgan, Scotiabank and State Street.
June 9 2020
Stanford Professor Darrell Duffie released a paper last month through the Brookings Institution discussing centralized clearing of US Treasuries. He organizes the arguments about how and why clearing should move forward including whether engagement is needed from government actors. We review the main points and ask some questions in return.
June 8 2020
It can be hard to track the rationale behind government repo market pricing around the world, especially in the face of massive central bank intervention. In a new development, one measure of US Treasury repo rates had a multi-day streak above Interest on Excess Reserves (IOER) last week. EU government repo rates meanwhile continue to hover near the ECB benchmark, give or take a bit of demand by country.
