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Rick Wilking - 1 Christopher Clarke - 1 Gary Gensler - 1 James Tabacchi - 1 Richard Chambers - 1 Goldman Sachs - 1 Davide Barbuscia - 1 Megan Davies - 1
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Search resuls for: "South Street Securities"


3 mentions found


☆ US Treasury market debate around hedge fund collateral intensifies
  + stars: | 2023-11-21 | by ( Davide Barbuscia Carolina Mandl | Davide Barbuscia | Carolina Mandl | ) www.reuters.com   time to read: +3 min
Industry practice suggests that a large share of hedge funds trading in repo markets put up zero collateral, meaning they are fuelling activity using enormous amounts of cheap debt. A looming rule by the U.S. Securities and Exchange Commission would expand the use of central clearing in the cash Treasury and repo market. SEC chair Gary Gensler recently promoted the benefits of central clearing and pointed to data showing high levels of repo trades transacted at zero haircuts. James Tabacchi, CEO of South Street Securities, called zero haircuts a "race to the bottom" and not healthy for markets. However, some market participants have voiced concerns that some of the proposed reforms could be a hurdle for some investors, potentially undermining the goal to improve liquidity and resilience in the Treasury market.
Persons: Rick Wilking, Christopher Clarke, Gary Gensler, James Tabacchi, Richard Chambers, Goldman Sachs, Davide Barbuscia, Megan Davies, Paritosh Bansal, Sonali Paul Organizations: REUTERS, U.S, Industry, repo, North America Sovereign Financing, Morgan Securities, Treasury, Federal Reserve Bank of New, U.S . Securities, Exchange, Corporation, SEC, . Federal Reserve, South Street Securities, Goldman, Thomson Locations: Westminster , Colorado, Treasuries, Federal Reserve Bank of New York, Carolina
☆ In the Market: Amid the calm, the Fed brews the next storm
  + stars: | 2023-05-29 | by ( Paritosh Bansal | ) www.reuters.com   time to read: +4 min
Earlier this month, Chairman Jay Powell said the Fed's monetary policy and financial stability tools were "working well together," allowing it to support banks and pursue price stability. But several people in the market believe not only is the regional banking sector still under stress, multiple other risks to financial stability also remain. Tighter monetary policy could well cause them to blow up or worsen the impact of other shocks, such as debt ceiling negotiations. "The Fed has no desire to conduct monetary policy through financial crises," said Wendy Edelberg, director of The Hamilton Project at the Brookings Institution. In its most recent financial stability report earlier this month, the Fed listed several areas of concern, including life insurance and some types of bond and loan funds.
☆ Analysis: Financial or price stability? Fed faces calls to pause
  + stars: | 2023-03-18 | by ( Paritosh Bansal Ira Iosebashvili | Paritosh Bansal | Ira Iosebashvili | ) www.reuters.com   time to read: +5 min
Some industry executives said the central bank should prioritize financial stability now. “Go fast and hard on financial stability; go gradual and slow on price stability,” said Peter Orszag, chief executive of financial advisory at investment bank Lazard Ltd (LAZ.N). The central bank declined to comment. Others have joined in, with the European Central Bank raising rates by 50 basis points earlier this week. The events this past week correspond to a 1.5% increase in the Fed funds rate, Slok wrote.
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