Event Overview: This event brings together market participants in securities lending. These sessions are designed by securities lending and borrowing professionals for individuals from banks, brokerage houses, pension funds, endowments,...
Event Overview: This event brings together market participants in securities lending. These sessions are designed by securities lending and borrowing professionals for individuals from banks, brokerage houses, pension funds, endowments, and regulatory agencies. Topics include a legal and regulatory update, industry leaders discussing collateral management, international market updates, performance measurement and an outlook for 2021. Sessions will include discussions on Diversity, Equity, Inclusion (DEI), and an update on how the treasury repo market fared and what the future looks like.
Session #1: Global Regulatory Update and Outlook for 2021
The RMA Securities Lending Council has been providing members with updates, guidance, and thought leadership as well as responding to various proposed rulemaking initiatives on both a global and regional basis. This session will discuss the change in US government and how it typically heralds a new approach to bank regulation. ?We will take an early look at the potential key Biden regulatory changes, and the impact of the US elections more generally including an overview of some of the key US, as well as global regulatory developments and trends of importance to the industry. Additionally, how are institutions planning for Brexit and what are the main considerations for your business? What other events with significant global impact should everyone be keeping an eye on?
Objective: To provide an overview of the regulatory landscape for securities finance.
Session #2: Global Securities Lending Markets and the State Of The Industry
What industry trends have been observed over the past few quarters given the impact of COVID-19? As we enter the eleventh month of the lockdown, what areas of concern do you have, especially around staffing and productivity? As interest in sustainable investing continues to grow, there is a great deal of discussion around how ESG principles can be applied to securities lending programs. Rise of SPACs and deal activity and how it is impacting the lending markets. What are HFs views on these new vehicles and by default are they prone to concerns around governance and potential fraud. The discussion will highlight the volume of securities available and on-loan and provide insights into collateral and cash reinvest rates given the interest rate environment. Additionally, what markets and securities are making money for clients, and which are not?
Objective: To provide an overview of the current and future landscape for securities finance.
Session #3: Advancing Diversity, Equity and Inclusion in the Securities Finance Industry
There has recently been greater focus on diversity and inclusion in the workplace including well publicized advancements. However, there is far more to be done to create truly inclusive workplaces under normal circumstances. The past year, more specifically the Covid-19 environment, has been anything but normal, and one real risk the industry faces is an exodus of diverse talent and an unwinding of many years of progress made advancing diversity. During this session you will hear from a panel of business leaders / people mangers who will share their experiences to give insight into the challenges they have faced and how you can create a safe and welcoming environment for everyone. The panel will brainstorm implementable initiatives to increase inclusion at your institutions from both attraction and retention perspectives. Some specific topics include:
- Managing through the remote working environment today and in the future
- Managing a winning return to office strategy
- Focusing on the people, empathy and compassion required!
Objective: To provide an overview of the diversity, equity and inclusion (DEI) landscape for securities finance.
Session #4: Evolution of Tri-Party Market
Description: Rates for overnight and term repo funding collateralized by US Treasuries held close at around 1.6% prior to the pandemic and US equity markets sold off in late February. The economic impact of COVID-19 in early March caused availability of funding to tighten significantly. Settlement fails in the US Treasury market rose sharply, hitting a high of $192 billion on March 12. A rise in off-the-run fails was observed in early March, with fails then rapidly increasing in on-the-run bonds. Given the stress of the past this past March through May time frame, what worked and what did not? What can we do as an industry to limit fails? Looking ahead, what can digital assets do to reduce the issues in clearance and settlement and what are the risks we need to consider?
Objective: To discuss recent developments with Tri-Party Repo and its performance during the Pandemic Stress Test Market.
The attendees will learn: Appreciation on how the Repo Markets are evolving since 2008 and the resiliency of the infrastructure in Repo and Government Securities.