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Top related persons:
Darrell Duffie - 5 Duffie - 5 Kim Kyung - 2 BNY Mellon - 2 ICBC - 2 Moxfive - 2 BNY - 2 SIFMA - 2
Top related locs:
Beijing China Commercial Bank of China's U.S New York Wall , Wyoming Jackson Hole , Wyoming ”
Top related orgs:
Treasury - 5 Thomson - 5 Stanford University - 3 Securities - 3 Industrial - 2 Commercial Bank of China - 2 REUTERS - 2 Commercial Bank of China's - 2

Search resuls for: "Darrell Duffie"


7 mentions found


☆ In the Market: Regulators look to pry open the dark corners of Treasury markets
  + stars: | 2023-11-29 | by ( Paritosh Bansal | Thomson Reuters | Paritosh Oversees The Work Of More Than Journalists Across The Globe Who Write About Finance | ) www.reuters.com   time to read: +6 min
Duffie said more could be done, but added that the "official sector Treasury market datasets are far more comprehensive now than they were a few years ago." They would have much better estimates of the basis trade, for example, but they still wouldn't know exactly how big it is. The trade involves hedge funds exploiting the difference between a Treasury security and its derivative in the futures market. The CFTC data includes other trades that hedge funds enter into that involve shorting treasury futures, the two industry sources said. At a major Treasury market conference earlier this month, officials underscored the importance of good data.
Persons: Darrell Duffie, Duffie, John Williams, Sherlock Holmes, Paritosh Bansal, Anna Driver Organizations: U.S . Federal Reserve, Financial Research, Stanford University, Treasury, Futures Trading Commission, Securities, Exchange Commission, Regulators, ” New York Fed, Thomson Locations: ”
☆ Inside Wall Street's scramble after ICBC hack
  + stars: | 2023-11-13 | by ( Paritosh Bansal | Thomson Reuters | Paritosh Oversees The Work Of More Than Journalists Across The Globe Who Write About Finance | ) www.reuters.com   time to read: +7 min
ICBC Financial Services could not be reached for comment. It said it had cleared Treasury trades executed on Wednesday and repo financing trades done on Thursday. While market participants and officials have said the impact of the ICBC hack on Treasury market functioning was limited, the full extent of it is not yet understood. The hack is likely to become a key topic of conversation at a major Treasury market conference on Nov. 16. ICBC told market participants Friday that they were also hoping to have a secondary email system set up soon.
Persons: Kim Kyung, BNY Mellon, ICBC, Moxfive, Darrell Duffie, Duffie, BNY, SIFMA, Paritosh, Edward Tobin Organizations: Industrial, Commercial Bank of China, REUTERS, Commercial Bank of China's, Treasury, ICBC Financial Services, Reuters, ICBC, Securities, Exchange, Stanford, ICBC Financial, Treasuries, Thomson Locations: Beijing, China, Commercial Bank of China's U.S, New York, Wall
☆ In the Market: Inside Wall Street's scramble after ICBC hack
  + stars: | 2023-11-13 | by ( Paritosh Bansal | Thomson Reuters | Paritosh Oversees The Work Of More Than Journalists Across The Globe Who Write About Finance | ) www.reuters.com   time to read: +7 min
It said it had cleared Treasury trades executed on Wednesday and repo financing trades done on Thursday. While market participants and officials have said the impact of the ICBC hack on Treasury market functioning was limited, the full extent of it is not yet understood. Nevertheless, market participants said the attack is likely to add a new aspect to the regulatory review, as it brings cyber threats into sharper focus. The hack is likely to become a key topic of conversation at a major Treasury market conference on Nov. 16. ICBC told market participants Friday that they were also hoping to have a secondary email system set up soon.
Persons: Kim Kyung, BNY Mellon, ICBC, Moxfive, Darrell Duffie, Duffie, BNY, SIFMA, Paritosh, Edward Tobin Organizations: Industrial, Commercial Bank of China, REUTERS, Commercial Bank of China's, Treasury, ICBC Financial Services, Reuters, ICBC, Securities, Exchange, Stanford, ICBC Financial, Treasuries, Thomson Locations: Beijing, China, Commercial Bank of China's U.S, New York, Wall
☆ How to keep the next 'dash for cash' from crashing bond market - study
  + stars: | 2023-08-25 | by ( ) www.reuters.com   time to read: +2 min
Treasury trading nearly ground to a halt, imperiling the functioning of global financial markets, until the Fed jumped in to buy hundreds of billions of dollars of bonds that helped to free up space on dealer balance sheets. "Backstopping the liquidity of this market with transparent official-sector purchase programs will further buttress market resilience." Future bouts of Treasury market illiquidity could also be made less likely with broader use of central clearing, Duffie wrote, as well as changing the way regulators assess bank capital levels. Financial authorities made such a change temporarily after March 2020, but allowed the so-called Supplementary Leverage Ratio exemption to sunset a year later. Other changes could include technical changes to market function to encourage direct buying and selling without dealer intermediation, Duffie wrote.
Persons: JACKSON, Darrell Duffie, Duffie, intermediation, Ann Saphir, Chizu Organizations: Treasury, Federal Reserve, Stanford University, Kansas City, Fed, Thomson Locations: , Wyoming, Jackson Hole , Wyoming
☆ How to keep the next 'dash for cash' from crashing bond market
  + stars: | 2023-08-25 | by ( ) www.reuters.com   time to read: +2 min
Treasury trading nearly ground to a halt, imperiling the functioning of global financial markets, until the Fed jumped in to buy hundreds of billions of dollars of bonds that helped to free up space on dealer balance sheets. "Backstopping the liquidity of this market with transparent official-sector purchase programs will further buttress market resilience." Future bouts of Treasury market illiquidity could also be made less likely with broader use of central clearing, Duffie wrote, as well as changing the way regulators assess bank capital levels. Financial authorities made such a change temporarily after March 2020, but allowed the so-called Supplementary Leverage Ratio exemption to sunset a year later. Other changes could include technical changes to market function to encourage direct buying and selling without dealer intermediation, Duffie wrote.
Persons: JACKSON, Darrell Duffie, Duffie, intermediation, Ann Saphir, Chizu Organizations: Treasury, Federal Reserve, Stanford University, Kansas City, Fed, Thomson Locations: , Wyoming, Jackson Hole , Wyoming
☆ Analysis: As sun sets on LIBOR, its successor rate may heighten bank risks
  + stars: | 2023-05-22 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com   time to read: +5 min
The transition to the Secured Overnight Funding Rate (SOFR) has been well-telegraphed for years and U.S. banks are mostly prepared for the new rate regime. Typically in a crisis, the cost of bank funding rises: rates on commercial paper and bond issuance increase as investors demand a premium to buy bank debt. This was highlighted by the New York Fed in a study released in December 2022 and updated last February. Bank funding costs have increased with the surge in interest rates since the Fed began tightening last year. "The transition has largely taken place and the rates on SOFR have risen in tandem with policy rate increases."
☆ Bond yields could drop under an idea that would make Treasury trading more like the stock market
  + stars: | 2023-04-22 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +4 min
Known as "all-to-all" trading, the idea would allow any market participant to interact directly with another, without intermediaries. But in the Treasury market, banks have traditionally acted as dealers for buyers and sellers. Whether it happens or not, some changes to the Treasury market appear likely as it has become less liquid. At the same time, the Treasury market skyrocketed after 2008, as the government injected large quantities of stimulus into the economy that sent debt soaring. But all-to-all trading may also introduce less rational investors into Treasury markets, applying a gambling mentality to some trades.
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