Monthly Archives: February 2011

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Fed approves MF Global and SG Americas Securities as Primary Dealers

The Federal Reserve Bank of New York today added two Primary Dealers to the list of 18 broker-dealers approved to repo with the New York Fed. The newly approved dealers are MF Global Holdings Inc. and SG Americas Securities, LLC. … Continue reading

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Will this index spot financial trouble brewing?

Two economists from the Federal Reserve Bank of Chicago have developed an index to monitor financial stability and spot trouble brewing across traditional and shadow financial markets. The index uses 100 financial indicators including repo volume, which they view as … Continue reading

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Accounting for repo

Following on Tom Selling’s post at the Accounting Onion yesterday, Lynn E. Turner, former SEC chief accountant, offers the following explanation for the key problems with repo accounting: I have dealt with accounting for and auditing of repo’s now for three … Continue reading

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Shadow banking funded by repos, securities lending

The shadow banking system in the U.S. is interconnected by a short-term funding chain of repurchase agreements and securities lending that needs more effective supervision, an International Monetary Fund economist says in a report released today. Shadow banking lenders often are lax in … Continue reading

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Fed lowers MMF size for reverse repos

The Financial Times noted today that the Federal Reserve Bank of New York has dropped its size requirements for money market funds that it will do reverse repos with to $5 billion, down from $10 billion. It also reduced minimum … Continue reading