From September counterparty data specialist Avox began offering monitoring services for collateral used in open market operations in the Eurosystem. Assets eligible as collateral for Eurosystem monetary policy operations must fulfill certain criteria. A bank must avoid so called “close links”, meaning it must not submit as collateral any asset issued or guaranteed by itself or by any other entity with which it has close links by owning 20 percent or more of the capital. Without hierarchies and mapped assets, banks today usually do not apply uncovered bonds as collateral to avoid the close link risk. Avox’s Collateral Monitoring Services allow banks to monitor potential close links and therefore make more assets available as collateral.
A-Team Insight Blogs
Counterparty screening is a regulatory requirement, but do you know enough about your clients’ clients, and beyond? How can you source this information and how does it benefit your business? How far do you need to dig into entity ownership structures? This webinar discusses these challenges and how they relate to your organisation, whether you’re...
Following the success of VC stablemate NCino’s $250 million IPO back in June, rumours are swirling that Dublin-based client lifecycle management specialist Fenergo may be contemplating a significant corporate event, with possibilities ranging from an IPO of its own to a trade sale of the company. While sources close to the company are hinting that...
The TradingTech Summit in London brings together European senior-level decision makers in trading technology, electronic execution and trading architecture to discuss how firms can use high performance technologies to optimise trading in the new regulatory environment.
As the July 1, 2014 deadline for compliance with the Foreign Account Tax Compliance Act – or FATCA – approaches, financial institutions around the world are working to ensure their data management and operational systems will meet the requirements of the US legislation. This report discusses the requirements of FATCA and how the legislation is...