Bank investors are purchasing short-dated securities in anticipation of the Securitisation Regulation. They believe the LCR in its current form will cost them heavily
Corporates are looking at other options for securities lending due to the delay in the new regulation’s RTS. Firms are frustrated as they can't make concrete budgeting and resource plans
The cash shell model is increasingly popular in the UK equity market. In-house counsel think this will lead to formal regulation of the structure, particularly surrounding disclosures on target companies
There’s still significant lingering legal uncertainty for both asset managers and custodian banks as they face the operational challenge of CSA negotiations and KYC checks, at the risk of a sellside backlog closer to deadline
Phase four and five firms are worried that the costs and efforts preparing for uncleared margin rules will be gone with the wind, especially following the CFTC’s threshold announcement
Securities lending desks and trade repositories feel that the new regulation’s 153 data fields are cumbersome, with significant potential for errors and duplication. The UTI requirement is a particular headache
