Prompt action is necessary to enhance reporting from NBFIs and to establish better data for monitoring leverage and risk concentrations, according to the UK financial regulator
In its most-recent meeting, the Bank of England Securities Lending Committee reflects on regulatory capital costs, potential implications for loan indemnification and the need for focus in preparing for US T+1 settlement
The Committee notes that concerns around settlement efficiency have prevailed for many years and CSDR penalties have not resulted in a significant improvement since enactment of the settlement discipline regime in February 2022
The New Jersey-based provider of enterprise-wide SaaS solutions indicates that it will be using the fundraising to expand its global team and to extend the range of traditional and non-traditional assets supported through its peer-to-peer network
According to SFC, the proposals, which discuss rules surrounding securities lending, seek to modernise the current requirements under the UT Code for public funds
“The beneficial owner discussion is tending toward a more revenue-driven narrative as we look at how securities lending evolves for that side of the supply chain”, according to Simon Lee, managing director at eSecLending
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