Regulatory Alerts2022-10-25 | 2022-20288Added · Updated
Standards for Covered Clearing Agencies for U.S. Treasury Securities and Application of the Broker-Dealer Customer Protection Rule With Respect to U.S. Treasury Securities
The Securities and Exchange Commission proposes to amend standards for covered clearing agencies to require that all direct participants submit eligible secondary market transactions in U.S. Treasury securities for central clearing and settlement. The proposal also introduces risk management requirements for margin calculation and permits broker-dealers to include margin held at these clearing agencies as a debit in their customer protection reserve formulas. These measures aim to reduce counterparty risk, enhance operational efficiency, and protect investors within the U.S. Treasury market.
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