Search Results for keywords:"Depository Trust Company"

Found 5 results

Search Results: keywords:"Depository Trust Company"

View All
Oldest Newest
  • 2025-06523 — Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Money Market Instruments Modernization
    💰
    Type:Notice
    Citation:90 FR 16188
    Reading Time:about 34 minutes

    The Securities and Exchange Commission has published a notice regarding a proposed rule change by The Depository Trust Company (DTC) related to money market instruments. DTC aims to streamline the securities eligibility process by moving the processing of money market instruments to a more modern system, updating rules, consolidating provisions, and reducing paperwork requirements. The proposed changes are meant to make the process more efficient, simplifying the requirements for participants and issuers. This proposal is designed to enhance the overall processing and settlement of securities transactions.

    Simple Explanation

    The government is telling people about a plan to make handling and trading some special money types, called money market instruments, faster and easier by using new computer technology and reducing complicated rules. This is like cleaning up your room, throwing away stuff you don't need, and getting new shelves to make finding your toys quicker and simpler.

  • 2021-03090 — Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Add New Fees for DTC's Money Market Instrument Program
    💰
    Type:Notice
    Citation:86 FR 9968
    Reading Time:about 20 minutes

    The Depository Trust Company (DTC) has filed a proposed rule change with the Securities and Exchange Commission (SEC) to introduce new fees for its Money Market Instrument Program (MMI Program). This change aims to amend the DTC Fee Schedule to add new charges for adjustments in MMI processing that require manual intervention due to errors or late reconciliation by participants. The goal is to motivate participants to input accurate data and make timely adjustments to avoid additional settlement and operational risks. The proposed fees are tiered based on the type and risk level of the required adjustment, ranging from $2,000 to $10,000 per CUSIP.

    Simple Explanation

    The Depository Trust Company (DTC) wants to start charging banks more money if they make mistakes with their money market instruments to encourage them to be more careful, but it's not clear why the fees are set at certain amounts or how exactly they will help make things safer.

  • 2025-02288 — Self-Regulatory Organizations; The Depository Trust Company; Notice of No Objection to Advance Notice, as Modified by Amendment No. 1, To Raise Prefunded Liquidity Resources Through the Periodic Issuance and Private Placement of Senior Notes
    💰
    Type:Notice
    Citation:90 FR 9094
    Reading Time:about 24 minutes

    The Depository Trust Company (DTC) submitted a proposal to the Securities and Exchange Commission (SEC) to issue up to $3 billion in senior notes. The goal is to enhance DTC's liquidity by having more cash available in case a participant fails to meet their financial obligations. This idea aims to make DTC less reliant on existing credit resources and better prepared to meet its liquidity needs. The SEC reviewed the plan and concluded that it aligns with financial stability goals and risk management standards, thus posing no objections to the proposal.

    Simple Explanation

    The Depository Trust Company wants to borrow up to $3 billion by selling special notes (called senior notes) to have extra money ready just in case someone can't pay what they owe, and the people in charge at the SEC said they're okay with this plan because it helps keep money safe and stable.

  • 2020-29022 — Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Add a Fee for the New ClaimConnectTM Service
    💰
    Type:Notice
    Citation:86 FR 162
    Reading Time:about 10 minutes

    The Securities and Exchange Commission announced that The Depository Trust Company (DTC) has proposed a rule change to introduce a new fee for its optional service called ClaimConnect. This service allows participants to match and settle cash claim transactions, like payment requests due to trading discrepancies, using a new system. The fee will charge $1.75 per side for matched claims, totaling $3.50 per transaction, to help cover DTC's costs for developing and operating the service. The new fees will be implemented starting January 1, 2021, and participants have the option to continue settling claims through their existing methods if they choose not to use ClaimConnect.

    Simple Explanation

    The Securities and Exchange Commission said there's a new way for people to fix money mix-ups called ClaimConnect, and it costs $3.50 per time to use. If someone doesn't want to pay, they can keep doing things the old way instead.

  • 2024-29919 — Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing of Amendment No. 1 to Advance Notice To Raise Prefunded Liquidity Resources Through the Periodic Issuance and Private Placement of Senior Notes
    💰
    Type:Notice
    Citation:89 FR 102985
    Reading Time:about 25 minutes

    The Depository Trust Company (DTC) has proposed a plan to raise up to $3 billion through the issuance of senior notes, a type of debt, to strengthen its liquidity resources. This is a part of their strategy to ensure they have enough funds to complete financial settlements even if a major participant fails to meet their obligations. By diversifying their sources of liquidity, they aim to reduce dependency on current credit facilities and manage financial risks better. The Securities and Exchange Commission (SEC) is seeking public comments on this proposal.

    Simple Explanation

    The Depository Trust Company wants to borrow up to $3 billion by promising to pay it back later, to make sure they have enough money to keep things running smoothly if one of their big customers can't pay. The people who make the rules are asking everyone to share their thoughts about this plan.