FHFA has issued Advisory Bulletin (AB) 2024-02, Enterprise Operational Event Reporting. The AB articulates how Fannie Mae, Freddie Mac, and Common Securitization Solutions should collect and report operational loss events and tell FHFA about operational loss events that are high severity on an immediate basis. https://lnkd.in/ekctvbkg
Federal Housing Finance Agency’s Post
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Great news! Two-Year GoC #bondfutures (CGZ) volumes are reaching new heights, marking the contract’s rising popularity in the Bourse’s current suite of Canadian futures. #CGZ has been adopted by many new end-users in recent months, leading the product to break a daily non-roll volume record of nearly 110,000 contracts on January 11, 2024, and maintaining the positive momentum seen last quarter. Current open interest level of 171k contracts is also at an all-time high outside the roll period. As more investors gain exposure to short-term CAD government debt, CGZ remains an optimal tool for yield risk management. http://ms.spr.ly/6049iqYQZ
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The Canadian 2Y bond futures is on a roll! The average daily volume increased by 82% in 2023, reaching more than 52k contracts in Q4. And curve spreads are now available for trading in Bloomberg! CVXQ Comdty for 2y/5y spread CVCN Comdty for 2y/10y spread (and you get it, XQCN Comdty for our popular 5y/10y spread) In this environment of moving rates, trading the Canadian yield curve has never been easier! Try it today!
Great news! Two-Year GoC #bondfutures (CGZ) volumes are reaching new heights, marking the contract’s rising popularity in the Bourse’s current suite of Canadian futures. #CGZ has been adopted by many new end-users in recent months, leading the product to break a daily non-roll volume record of nearly 110,000 contracts on January 11, 2024, and maintaining the positive momentum seen last quarter. Current open interest level of 171k contracts is also at an all-time high outside the roll period. As more investors gain exposure to short-term CAD government debt, CGZ remains an optimal tool for yield risk management. http://ms.spr.ly/6049iqYQZ
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Check out KFI’s Q3 2023 bank snapshot for regional #banks and community lenders that have filed call reports as of November 1. The Snapshot compares the top 30 #regionalbanks (assets between $10 billion to $100 billion) and community #lenders (assets below $10 billion) across five financial metrics—ROAA, NPA, Tier 1 risk-based capital, brokered deposits to total deposits, and commercial real estate (#CRE) #loan exposure. KFI Pro subscribers can recreate the financial snapshot using the Screener tool, and can also add additional benchmarks, to examine the full universe of more than 4,000 banks. As banks continue to file their Q3 call reports, #KFI typically updates the latest data within one business day of when the filings become available on the regulator’s website. Click to view KFI’s Snapshot: https://lnkd.in/exHp8cu5
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In today’s challenging financial landscape, marked by high interest rates and consequently fewer new loans, the importance of quality underwriting cannot be overstated. Here’s why: ✅ Selective Lending: Fewer loans mean each decision is vital; quality underwriting ensures alignment with promising opportunities. ✅ Risk Sensitivity: Proper assessment of potential challenges becomes crucial. ✅ Maintaining Trust: Fostering long-term relationships with borrowers through responsible lending practices is key. ✅ Regulatory Compliance: It is nevertheless important to follow strict underwriting guidelines to comply with legal and regulatory frameworks. At MBL Risk Analytics, our commercial loan underwriting service is tailored to guide financial institutions through these complex times, focusing on precision, foresight, and adaptability. Reach out to MBLRA today at 800-337-4036 or [email protected] to see how we can help your institution. #financialservices #cre #underwriting #riskmanagement #creditunions #MBL
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📢 Is your team ready to handle the 2023 APRA Policy Changes? Do you know the impacts to the Banking Market from the following perspectives? 1️⃣ Liquidity 2️⃣ Interest Rate Risk - APS117 3️⃣ Additional Tier 1 (AT1) 4️⃣ Capital Framework Updates Need permanent or daily contractors to facilitate these changes in your team? Reach out to myself on the channels below. 👇 📧 : [email protected] 📱: 02 8227 9200 ✨✨ Want more Quant Risk - Market Updates? ✨✨ 👉 Click "CONNECT" #APRA #PolicyChanges #Liquidity #IRRBB #APS117 #CapitalFrameworks
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It was my pleasure to chair last week’s Structured Credit Investor’s Capital Relief Trades Seminar. One of my key takeaways was the role of counterparty risk and the robustness of capital relief trades in light of recent challenges e.g. SVB and Credit Suisse. You may be interested to know the extent to which the subsidiaries and trading companies of major banks are unrated by the main rating agencies. Credit Benchmark's Prime Broker, ISDA & GSIB Subsidiary Monitor (https://lnkd.in/eQkWSzUm) shines a light on the underlying network risk of some of these major firms – indeed, there is no such thing as one singular “Credit Suisse”. Also, have a read of our new research note “Consensus Default Risk Analytics for Capital Trade Optimisation” which shows how consensus credit data is being used to quantify existing credit portfolio risks and fine tune proposed new SRT trades: https://lnkd.in/eNKQxrKA #capitalrelieftrades #significantrisktransfer #syntheticrisktransfer #srt #crt #networkrisk #banking #riskmanagement #creditrisk #risktransfer #structuredfinance #data #default #defaultrisk
Prime broker, ISDA & GSIB Subsidiary Monitor
https://www.creditbenchmark.com
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New SEBI rules for Clearing Corporations: Guidelines for Core SGF Default Waterfall. Participants must comply with risk-based contributions.: The circular dated June 19, 2024, u/s 11(1) SEBI Act, 1992, addresses Contribution to Core Settlement Guarantee Fund and Default Waterfall for Limited Purpose Clearing Corporation (LPCC). It amends guidelines for contributions to Core SGF and Default waterfall, allowing direct participation by participants in LPCC. Participants' contributions to Core SGF are risk-based and subject to conditions. Timelines for contribution replenishment and default waterfall sequence are specified. LPCC must make necessary amendments and communicate implementation status to SEBI. The circular aims to protect investors' interests in the securities market. http://dlvr.it/T8b826 #SEBI #ClearingCorporations #Regulations #FinancialSecurity
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The June 2024 inspection-based waiver volumes are published, with 540 direct sellers now participating - 94 credit unions, 187 banks and 261 mortgage companies. Full article at https://mtgefi.com/xnud #inspectionbasedwaivers #propertydata #acepdr #appraisalmodernization #valuationmodernization #fanniemae #freddiemac #mtgefi
Lenders delivered $921MM using inspection based waivers in June, up 10.9% on May 2024 and the highest single month since both GSE solutions were full activated. Lenders increasing utilization of the solutions include Guaranteed Rate, JP Morgan, PNC, Fairway Independent and CMG. More at https://mtgefi.com/xnud #inspectionbasedwaivers #propertydata #acepdr #appraisalmodernization #valuationmodernization #fanniemae #freddiemac #mtgefi
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I’m looking forward to attending International Securities Lending Association (ISLA)’s Post Trade Conference on Wednesday. One panel in particular caught my attention - the "Migration to T 1: Part 1 – Trade Initiation & Settlement” session at 12pm. The panellists will be discussing the important topics of ‘Know Your Client’ (KYC), onboarding and trade initiation. It got me thinking that for anyone wanting to optimise their KYC and onboarding, they might be interested in seeing just how many buy side funds have a Credit Consensus Rating (CCR) (and no traditional Credit Rating Agency rating). We’ve seen how access to CCRs can help significantly speed up and drive efficiency in these processes. Take a look at our Buy Side Monitor here: https://lnkd.in/eEWSWh_R and DM me if you’d like to know more – alternatively come and chat to myself or my colleague Heather Jeffers who will be at the conference with me on Wednesday. cc Andrew Dyson Sejal Amin Farrah Mahmood Tina Baker Adrian Dale Anna de Winton Emma Johnson Sachin Mohindra Gary Wright #buyside #funds #isla #KYC #ALD #creditrisk #riskmanagement #banking #securitieslending #securitiesfinance #onboarding #settlements #trades
Buy-Side Monitor
https://www.creditbenchmark.com
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CA (AIR 3) | CAMS | AML UAE | AML India | AML Singapore | NIYEAHMA Consultants LLP | Technovisors | Ex-EY
One critical measure performed as part of Enhanced Due Diligence (#EDD) when engaging with high-risk customers is understanding the customer’s financial profile. This involves determining the source of the customer’s funds and wealth. Generally, the source of funds and the source of wealth are perceived as the same, but this does not always hold true. #Funds indicate the amount involved in a particular transaction, while #wealth is the customer’s net worth accumulated over the period. The source of funds (#SoF) provides an idea of how the transaction is being funded, i.e., from where the money involved in the transaction would come from. In contrast, the source of wealth (#SoW) indicates the origin of the customer’s overall net worth and helps determine whether the proposed transactions align with the customer’s financial status. #AML #amlcft #KYC #customerriskprofile #beneficialowners #highrisk #mlftrisk #antimoneylaundering #antifinancialcrime #sourceoffunds #sourceofwealth #PEP #FATFGreylist
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