📈New Compliance Requirements for Non-Centrally Cleared Repo Transactions
Ongoing Data Collection of Non-Centrally Cleared Bilateral Transactions in the U.S. Repurchase Agreement Market
Summary
The Office of Financial Research (the "Office") within the U.S. Department of the Treasury ("Treasury") is extending the compliance date for certain financial companies to report to the Office certain non-centrally cleared bilateral transactions in the U.S. repurchase agreement ("repo") market. This data collection requires daily reporting to the Office by certain brokers, dealers, and other financial companies with large exposures to non-centrally cleared bilateral repo ("NCCBR") transactions.
Agencies
- Treasury Department
- Financial Research Office
Business Impact
$$ - Med
The regulation mandates compliance for financial companies to report non-centrally cleared bilateral transactions in the repo market, impacting their operational processes and requiring potential investments in reporting systems. This affects Category 1 and Category 2 firms, necessitating adjustments to business practices and compliance efforts.