Search Results for keywords:"Government Securities Division"

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Search Results: keywords:"Government Securities Division"

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  • 2024-30520 — Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Clearing Fund Maintenance Fee of MBSD and GSD
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    Type:Notice
    Citation:89 FR 104595
    Reading Time:about 11 minutes

    The Fixed Income Clearing Corporation (FICC) has proposed changes to the way it calculates Maintenance Fees for its Mortgage-Backed Securities Division (MBSD) and Government Securities Division (GSD). Starting January 1, 2025, instead of charging a fee only on the cash deposit balance, FICC will calculate the fee based on the total Required Fund Deposit while lowering the fee rate from 0.25% to 0.085%. This change aims to encourage members to deposit more cash by removing disincentives, potentially enhancing FICC's liquidity. Although the change is intended to be revenue neutral for FICC, different members might see increases or decreases in their fees depending on their deposit sizes and risk profiles.

    Simple Explanation

    FICC is changing how they charge a fee for keeping track of money that people store with them. Starting in 2025, they'll look at how much total money is required to be kept safe instead of just cash, and they're making the fee smaller to maybe encourage people to keep more money there, which is supposed to be fair for everybody.

  • 2025-05200 — Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Filing of Proposed Rule Change To Adopt an Intraday Mark-to-Market Charge at GSD
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    Type:Notice
    Citation:90 FR 13965
    Reading Time:about 44 minutes

    The Securities and Exchange Commission is considering a proposed rule change by the Fixed Income Clearing Corporation (FICC) to introduce an Intraday Mark-to-Market Charge for its Government Securities Division. This change aims to manage risks that occur when the value of a member's portfolio changes significantly during the day. If these changes reach a certain threshold, FICC will charge members to cover the potential risks, helping to safeguard the financial system. Public comments on this proposal are being solicited before any decision is made.

    Simple Explanation

    The government wants to make sure that money trading is safe, so if a member's money changes a lot during the day, they might get charged extra. They're asking people what they think before they decide if this is a good idea.

  • 2021-01324 — Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of No Objection To Advance Notice To Include Same-Day Settling Trades in the Risk Management, Novation, Guarantee, and Settlement Services of the Government Securities Division's Delivery-Versus-Payment Service, and Make Other Changes
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    Type:Notice
    Citation:86 FR 6724
    Reading Time:about 30 minutes

    In the Federal Register, the Securities and Exchange Commission (SEC) announced it has no objections to the Fixed Income Clearing Corporation's (FICC) proposal to enhance its system for settling trades in U.S. Treasury securities. The proposal includes expanding FICC's central counterparty services to cover both the start and end of same-day repurchase agreements known as "repos," which aims to reduce settlement fails and improve efficiency. Additionally, FICC introduced a Pair-Off Service to help members settle their failed obligations more efficiently, minimizing market risks by allowing them to resolve these by the end of each day. The changes are expected to support financial stability by reducing systemic risks and promoting effective risk management.

    Simple Explanation

    The SEC gave the green light to some changes by a company that helps make buying and selling government money stuff safer and faster, like making sure everyone gets what they agreed to on the same day, which is like making sure all toys are shared properly before bedtime.