Briefings

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Week InAdvance: March 20, 2017

Mon Mar 20 - Cherry blossom festival begins in DC as the March equinox brings spring to the northern hemisphere and autumn to the southern hemisphere. | Tue Mar 21 - House panels examine CFPB structure and de novo banks. | Wed Mar 22 - Boston Fed President in Bali for Basel Committee meeting. INVESTORS CMBS Council meets. | Thu Mar 23 - Senate Banking SEC chair nomination. | Sat Mar 25 - Treaty of Rome 60th Anniversary.

Week InReview: March 17, 2017

The Smell of Fear | Global cybersecurity company Kaspersky Lab partnered with U.K. fashion/lifestyle blogger Scarlett London to create a perfume line they hope will serve as a symbolic reminder of the dangers that lurk in cyberspace. Threat de Toilette - with versions such as Social Enginoir, Mal-wear, and Phish - contains all the perfectly coded base notes of cybercrime, hints of spam, and drops of ransomware.

Week InAdvance: March 13, 2017

Week InAdvance | Mon Mar 13 DC conference on the state of global banking & finance. | Tue Mar 14 FOMC monetary policy meeting (thru Wed). Chile hosts Asia-Pacific trade talks. | Wed Mar 15 FOMC rate decision. | Thu Mar 16 G20 finance ministers & central bankers gather in Baden-Baden, Germany. | Sat Mar 18 China Development Forum opens in Beijing.

Week InReview: March 10, 2017

"There's a big fear that Mnuchin doesn't care, that he and the administration don't reform the market," said Jim Greco, a co-founder of Direct Match Holdings Inc., a Treasury-trading firm that's struggled to break the banks' death-grip on the market. At Finra's Rockville office, employees are creating a system to collect data on daily Treasury trading that at first will be shared only with regulators. The idea was that the next step could be that prices would be shared with the public, though Greco doubts that will happen.

Week InAdvance: March 6, 2017

Mon Mar 6 OCC & CFPB chairs speak in NYC. OECD conference in Paris. | Tue Mar 7 Launch of OECD economic outlook and G7 prospects in Paris. Brexit scrutiny in House of Lords. | Wed Mar 8 IOSCO meeting in Hong Kong. | Thu Mar 9 SEC investor advisory panel meets. MSRB webinar. House cybersecurity hearing. INVESTORS Market Practices meeting/telecon. | Fri Mar 10 SEC OIA summit.

Week InReview: March 3, 2017

The Cyber Cafe is now open. Every Friday in the INVESTORS Week InReview. Cybersecurity regulation, the latest standards, & news you can use. For more information on our Cyber Security Council, contact Matthew Jones, staff director at (202) 712-9050.

Week InAdvance: February 27, 2017

Mon Feb 27 FSB plenary in Cape Town. | Tue Feb 28 SEC-NYU dialogue on securities-based crowdfunding. | Wed Mar 1 BCBS meets in Basel. SEC debates disclosure, reporting rules. Fed releases Beige Book. | Thu Mar 2 FSOC executive session. CFPB board meeting. | Fri Mar 3 Annual Monetary Forum in Chicago.

Week InReview: February 24, 2017

On bond market liquidity... "We present a model of market makers subject to recent banking regulations: liquidity and capital constraints in the style of Basel III and a position limit in the style of the Volcker Rule. Regulation causes market makers to reduce their intermediation by refusing principal positions. However, it can improve the bid-ask spread because it induces new market makers to enter. Since market makers intermediate less, asset prices exhibit a liquidity premium. Costs of regulation can be assessed by measuring principal positions and asset prices but not by measuring bid-ask spreads." Banking Regulation & Market Making, Bank of Canada - Staff Working Paper

Week InAdvance: February 21, 2017

Tue 2/21 EU finance ministers meet in Brussels. | Wed 2/22 INVESTORS Cyber Security and Monthly Members Meetings (available via telecon). Fed releases FOMC minutes. | Thu 2/23 OFR panel meets on financial stability via webcast. | Fri 2/24 Day 1 of SEC Speaks forum in DC (available via webcast).

Week InReview: February 17, 2017

As of January this year, 128 bond trading platforms were available to fixed income market participants as traders seek new technology to improve connectivity and electronic trading. | This boom in innovation has seen traders readily embrace electronic trading and a variety of alternative protocols offered to meet bond market needs. | However, IOSCO explained this has led to fragmentation and difficulties for those trading the bond market, highlighting the importance of connectivity.
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