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Top related persons:
Joseph Abate - 2 Toby Melville - 1 ICBC - 1 BNY Mellon - 1 Abate - 1 DTCC - 1 Treasuries - 1 Davide Barbuscia - 1
Top related locs:
City London Commercial Bank of China's U.S U.S
Top related orgs:
Barclays - 2 REUTERS - 1 U.S . Securities - 1 Exchange Commission - 1 Commercial Bank of China's - 1 SEC - 1 Treasuries - 1 Corporation - 1

Search resuls for: "Joseph Abate"


4 mentions found


☆ Barclays flags Treasuries central clearing cybersecurity risks after ICBC hack
  + stars: | 2023-11-15 | by ( Davide Barbuscia | Thomson Reuters | Davide Barbuscia Covers Macro Investment | ) www.reuters.com   time to read: +2 min
[1/2] The logo of Barclays bank is seen on glass lamps outside of a branch of the bank in the City of London financial district in London September 4, 2017. The SEC central clearing rule, first proposed in September last year, would apply to the cash Treasury and repurchase agreements (repo) markets, where banks and other players such as hedge funds borrow short-term loans backed by Treasuries. "This creates a potential single-point of failure risk as recent events illustrate," he said, referring to the ICBC hack. Abate also flagged cybersecurity risks for direct members of the FICC, as well as clients they sponsor to access the clearing platform, saying mandatory central clearing could make FICC "a fortress with many doors." The SEC is expected to finalize the rule early next year, said Barclays, but it is unclear how much time the industry would have to implement it and whether central clearing will occur simultaneously for Treasuries and repo transactions.
Persons: Toby Melville, Joseph Abate, ICBC, BNY Mellon, Abate, DTCC, Treasuries, Davide Barbuscia, Marguerita Choy Organizations: Barclays, REUTERS, U.S . Securities, Exchange Commission, Commercial Bank of China's, SEC, Treasuries, Corporation, Depository Trust, Clearing Corporation, U.S . Treasury, Reuters, Thomson Locations: City, London, Commercial Bank of China's U.S, U.S
☆ A portfolio manager explains why the first quarter of 2024 is the perfect storm for a stock-market pullback — and shares the 3 funds he's buying to take advantage of this year's bull rally
  + stars: | 2023-09-21 | by ( Laila Maidan | ) www.businessinsider.com   time to read: +4 min
Goldman Sachs expects rates to hold steady again as inflation trends down and the labor market remains strong. But Raymond Bridges, the portfolio manager of the Bridges Capital ETF, an actively managed equity long-only fund, believes the overall macro outlook is still bearish. But regional banks continue to access this program every week, Bridges said. But just because he's bearish on the macro outlook doesn't mean he's not going to take advantage of short-term opportunities. His ETF, launched on May 11, is a mix of US equity-index ETFs, large-cap stocks, and cash or cash equivalents.
Persons: Goldman Sachs, Raymond Bridges, Bridges, Joseph Abate, Jerome Powell, he's bearish, Russell Organizations: Fed, Bridges Capital ETF, Barclays, Reuters, Regional Banking, Trust, BPI
☆ Analysis: Declining U.S. bank reserves add wrinkle to contentious debt ceiling issue
  + stars: | 2023-03-10 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com   time to read: +5 min
Bank deposits, which are part of reserves, also dropped with customers seeking higher-yielding alternatives for their cash. Lower reserves constrain banks' balance sheets, hampering their ability to lend to finance corporate growth and expansions, analysts said. As of March 8, bank reserves during the week averaged $2.999 trillion, Fed data show, falling around $1.3 trillion from a peak of $4.3 trillion in December 2021. Volumes on reverse repos have hit north of $2 trillion since June last year, even as bank reserves have dwindled. And cash assetsDeposit outflows, reverse repos, and bank reserves are all inter-related.
☆ Fed discount window borrowing is edging up, but is it a problem?
  + stars: | 2022-12-09 | by ( Michael S. Derby | ) www.reuters.com   time to read: +5 min
In March 2020 at the onset of the coronavirus pandemic discount window borrowing surged to a peak of around $50 billion. Reuters GraphicsA JUMP IN BORROWINGDiscount window borrowing is opaque by design, and firm conclusions are difficult to reach, analysts say. “There really shouldn't be a reason discount window borrowing is increasing at all,” said Thomas Simons, an economist with investment bank Jefferies. “The increase in discount window borrowing may be a sign that funding pressures are building at the fringes of the market,” Abate wrote. Rising discount window borrowing might also have implications for the Fed's ongoing efforts to shrink the size of its balance sheet.
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