Municipal bonds
Clearing members sour further on cash for IM collateral
Sovereign bonds remain preferred choice at top CCPs in Q3
First Republic taps Fed facilities in effort to plug funding hole
Discount window and BTFP provide temporary relief as deposits slump $72bn in Q1
Gensler calls for enhanced US bond market transparency
SEC chief advocates shorter Trace reporting delay, public dissemination of Treasuries trades
Don’t apply OTC equity rules to bonds, says SEC’s Peirce
Republican commissioner warns proposed transparency rule could deter electronic trading of bonds
Insurers’ favourite credit rating becomes more expensive
US institutions face a dilemma: go up a rating and lose yield or go down a rating and increase risk
The corporate bond revolution will be streamed
Dealers are piping feeds of live, executable prices direct to select clients
State Street bolsters liquidity buffers
HQLA share of investment portfolio grows from 61% to 70% in the first quarter
CVA, fraud and settlement risk
April 28–May 4, 2017
Law firm of the year: Cadwalader, Wickersham & Taft
US law firm proposed relief to Tob programme, and won mandate to develop rule change
Fed rejects muni bonds from US LCR
Tarullo hints at future inclusion subject to criteria
US muni treasurers warn LCR could crimp spending
If US regulators do not count muni debt as highly liquid, issuers fear financing cost rise
Hedge funds tread carefully around Detroit bankruptcy
Unsettling bankruptcy opportunities
Detroit swaps spark fight between dealers and insurers
Detroit spinners
Detroit prepares for court hearing on swaps termination
Court will rule on compromise agreement between bankrupt city and swaps counterparties
JP Morgan Securities charged with rigging municipal bonds
JPMS rigged at least 93 municipal bond reinvestment transactions in 31 states, SEC says
US public pension deficits driving muni yields
Untied states