Search Results for keywords:"Depository Trust Company"

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Search Results: keywords:"Depository Trust Company"

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  • 2021-00815 — Self-Regulatory Organizations; The Depository Trust Company; Order Approving a Proposed Rule Change To Allow for the Deposit of Electronic Certificates of Deposit and Technical Changes
    Type:Notice
    Citation:86 FR 4151
    Reading Time:about 20 minutes

    The Securities and Exchange Commission (SEC) has approved changes proposed by The Depository Trust Company (DTC) to introduce an electronic system for managing Certificates of Deposit (CDs) issued by banks. This new system allows CDs to be generated, executed, and stored electronically in a secure digital vault, reducing the need for physical certificates and associated operational concerns like transport disruptions. The approved rule aims to improve efficiency by streamlining the process, enhancing legal clarity, and reducing risks associated with physical handling. Additionally, the DTC plans to make technical updates, such as clarifying terminology and updating obsolete system references.

    Simple Explanation

    The SEC has said it's okay for a company that helps keep track of money stuff to use computers instead of paper to handle special savings papers from banks, making it easier and safer. But some people are a bit worried because it's not clear how much it will cost, who will make money from it, and there are some tricky words that people might not understand.

  • 2021-02712 — Self-Regulatory Organizations; The Depository Trust Company; Order Approving a Proposed Rule Change To Update the Distributions Service Guide
    Type:Notice
    Citation:86 FR 8953
    Reading Time:about 12 minutes

    The Securities and Exchange Commission (SEC) has approved a rule change proposed by The Depository Trust Company (DTC) to update its Corporate Actions Distributions Service Guide. The changes clarify the interim accounting process, especially in cases of securities being delisted or when ex-dates change due to unscheduled stock exchange closures. DTC will no longer apply interim accounting when an ex-date shifts due to unexpected closures, reducing the workload on participants. Additionally, updates were made to the withholding tax regulations for non-U.S. participants. These adjustments aim to improve DTC's operational efficiency and enhance clarity for its participants.

    Simple Explanation

    The SEC said yes to some new rules from a company that helps keep track of who owns parts of big businesses. These rules help make things clearer about how and when to do tricky money counting tricks, especially when things get mixed up by surprise changes, making it easier for everyone to understand and work with.

  • 2024-30351 — Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Modify the Guide to the DTC Fee Schedule To Revise Certain Fees Charged to Participants for Settlement Services
    Type:Notice
    Citation:89 FR 104282
    Reading Time:about 15 minutes

    The Depository Trust Company (DTC) proposed a rule change to update fees for certain settlement services, effective January 1, 2025. This proposal involves increasing fees for Deliver Orders during both day and night settlement cycles, as well as for tracking services and transactions with the National Securities Clearing Corporation's Continuous Net Settlement system. DTC argues that these increases are necessary to align costs with revenue while maintaining a low-margin markup, and ensures that fees are allocated equitably among participants who use these services. The proposal aims to help DTC cover its operating expenses and continue meeting regulatory requirements.

    Simple Explanation

    Imagine if a toy store needs more money to cover its costs, so it decides to charge a little more for certain toys. In this case, the company in charge of helping people trade stocks wants to raise its fees a bit to cover its expenses and make sure it's fair for everyone who uses their service.

  • 2025-01931 — Self-Regulatory Organizations; The Depository Trust Company; Fixed Income Clearing Corporation; National Securities Clearing Corporation; Order Approving Proposed Rule Change To Amend the Clearing Agency Investment Policy
    Type:Notice
    Citation:90 FR 8555
    Reading Time:about 15 minutes

    The Securities and Exchange Commission approved proposed changes to the investment policies of the Depository Trust Company, Fixed Income Clearing Corporation, and National Securities Clearing Corporation. These changes are intended to align their policies with new rules for managing U.S. Treasury securities transactions and safeguarding customer margins. The proposal includes a process to keep proprietary and customer funds separate and independently managed, which aims to enhance the stability and security of these financial transactions. The updated policies are meant to ensure that funds are secure and properly managed even in the event of a financial default.

    Simple Explanation

    The SEC says it's okay for some big money-keeping companies to change how they handle money, making sure they keep people's and companies' money safe and separate, even if things go wrong. This helps keep everyone's money safe, just like making sure your toys and your friend's toys are put away in separate boxes!

  • 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
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    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.

  • 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
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    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.

  • 2025-06523 — Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Money Market Instruments Modernization
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    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.

  • 2025-00170 — Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Settlement Service Guide
    Type:Notice
    Citation:90 FR 1556
    Reading Time:about 4 minutes

    The Securities and Exchange Commission (SEC) announced that The Depository Trust Company (DTC) filed a proposed rule change to amend the Settlement Service Guide. This change aims to optimize settlement transactions by removing outdated references to the Night Batch Process and adding more flexibility and clarity to the settlement cycles. The rule change will take effect immediately, and the SEC is inviting public comments on whether the proposal aligns with the Securities Exchange Act of 1934. Comments can be submitted online or by mail until January 29, 2025.

    Simple Explanation

    Imagine a company wants to make a game better by removing old parts and adding new things to make it more fun and easy to play. The grown-ups in charge of the game are asking everyone if they think these changes are good, and they have until the end of January to share their thoughts.

  • 2024-29629 — Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing of Proposed Rule Change To Amend the Clearing Agency Investment Policy
    Type:Notice
    Citation:89 FR 102195
    Reading Time:about 20 minutes

    The Securities and Exchange Commission has published a notice about a proposed rule change by The Depository Trust Company (DTC). This proposal seeks to amend the Clearing Agency Investment Policy to ensure compliance with new requirements for handling and investing customer funds. Key changes include separating and independently managing the margin for proprietary transactions from those involving indirect participants, as well as restrictions on how these funds can be invested, primarily in U.S. Treasuries with short maturities. The proposal aims to align with regulations that safeguard the funds that DTC manages.

    Simple Explanation

    The big boss of some money rules wants to make sure they handle other people's money safely by keeping their own money separate and only putting it in safer places like short-term government bonds, so they don't lose it.

  • 2025-04507 — Self-Regulatory Organizations; Fixed Income Clearing Corporation (“FICC”); Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Clearing Agency Risk Management Framework
    Type:Notice
    Citation:90 FR 12870
    Reading Time:about 3 minutes

    The Fixed Income Clearing Corporation (FICC) has proposed changes to its Risk Management Framework, affecting it and its affiliates, like The Depository Trust Company and National Securities Clearing Corporation. These changes aim to clarify and update procedures related to quarterly and annual reviews and remove references to the Systemic Risk Council. The Securities and Exchange Commission is seeking public comments on these proposed amendments, which can be submitted electronically or in writing by April 9, 2025. All comments will be publicly available on the SEC's website, although obscene or copyrighted material may be redacted or withheld.

    Simple Explanation

    The Fixed Income Clearing Corporation wants to update its rules to check its work regularly and remove some old, unused parts. The Securities and Exchange Commission wants people to share their thoughts about these changes before a certain date.

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