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Daily Archives: January 31, 2016

U.S. Uncleared Swap Margin, Capital and Segregation Rules

Presentation by Davis Polk & Wardwell LLC – snipped – Introduction – U.S. prudential regulators (the OCC , Federal Reserve, FDIC, FCA and FHFA) and the CFTC have finalized uncleared swap margin , capital and segregation requirements (the “PR rules,” and “ CFTC rules,” respectively, and the “final rules,” collectively [note – The CFTC has not yet finalized its capital rules applicable to swap dealers that are not prudentially regulated by a U.S. prudential regulator). The PR rules apply to swap entities that are prudentially regulated by a U.S. prudential regulator (“PR CSEs”). The CFTC rules apply to swap entities that are regulated by the CFTC and that are not prudentially regulated (“CFTC CSEs”). In this memorandum, “covered swap entities” refersto PR CSEs and CFTC CSEs, together;  The SEC has proposed, but not yet finalized, uncleared swap margin and capital rules that would apply to security – based swap dealers and major security-based swap participants not prudentially regulated by a U.S. prudential regulator;  The final rules are broadly similar to the Basel Committee on Banking Supervision’s and the International Organization of Securities Commissions’ 2013final policy framework on margin requirements for uncleared derivatives (as modified in March 2015). The variation margin compliance deadline for a given covered swap entity and counterparty is either September 1, 2016 or March 1, 2017, and the initial margin compliance deadline is phased in between September 1, 2016 and September 1, 2020, each depending upon the size of the covered swap entity’s (and its affiliates’) combined swap positions with the counterparty…”

Global Housing Watch Report – January 2016 Update

IMF – “The January 2016 issue of the Global Housing Watch Quarterly Update includes: An update of the five core charts: the Global House Price Index, real house price growth , real credit growth, house price-to-income ratio , and house price-to-rent ratio across countries (pages 1 to 6); A summary of a recent conference that… Continue Reading

OECD – Measuring and Assessing Well-Being in Israel

“Israel’s economy has strong fundamentals, but the country needs to address productivity, inequality and poverty if it wants to improve well-being and reduce socio-economic divides, according to the OECD’s latest Economic Survey of Israel. The release coincided with the fifth anniversary of Israel’s accession to the OECD. The Survey was presented by OECD Secretary-General, Angel… Continue Reading

White House – Taking Action to Advance Equal Pay

“Summary:  On the 7th anniversary of the Lilly Ledbetter Fair Pay Act, President Obama is announcing new actions the Administration is taking to advance equal pay for all workers…The Equal Employment Opportunity Commission (EEOC), in partnership with the Department of Labor, is publishing a proposal to annually collect summary pay data by gender, race, and… Continue Reading

The Federal Reserve’s Financial Crisis Response E

Wiggins, Rosalind Z. and Metrick, Andrew, The Federal Reserve’s Financial Crisis Response E: The Term Asset-Backed Securities Loan Facility (January 27, 2016). Available for download at SSRN: “Securitization is a process that allows banks and other lenders to package loans and sell them as bonds called asset-backed securities (ABS), removing them from their balance… Continue Reading

The Current State of Linked Data in Libraries, Archives, and Museums

“Erik T. Mitchell wrote Library Technology Reports (vol. 50, no. 5), “Library Linked Data: Research and Adoption,” published in July 2013. This report, ALA TechSource, Vol 52, No. 1 (2016) revisits the adoption of Linked Data by libraries, archives, and museums, identifying current trends, challenges, and opportunities in the field. By looking at services and… Continue Reading

Expert – PGP leaks metadata and is not secure

Via Motherboard – Pssst, Your PGP Is Leaking: “Ever since the Snowden revelations, more and more people have been educating themselves on how to use encryption. One of the first programs people might turn to is Pretty Good Privacy, or PGP, a version of which was thrust further into the public consciousness when it was… Continue Reading