Reporting Collateral Data I

Reporting Collateral Data I

Richard Comotto

30 years: Money markets

In this video, Richard will discuss reporting collateral data, beginning with general data. This covers the level of collateral reporting, as well as collateral updates reports. He will also explain how collateral is used with repo, both the underlying collateral and variation margin. This video was shot on the 10th of June 2020, and reflects the status of regulation as at that date. This video will periodically be updated to reflect any pertinent changes in regulation.

In this video, Richard will discuss reporting collateral data, beginning with general data. This covers the level of collateral reporting, as well as collateral updates reports. He will also explain how collateral is used with repo, both the underlying collateral and variation margin. This video was shot on the 10th of June 2020, and reflects the status of regulation as at that date. This video will periodically be updated to reflect any pertinent changes in regulation.

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Reporting Collateral Data I

16 mins 20 secs

Overview

SFTR is a major regulatory reporting requirement for anyone transacting repo and other securities financing transactions in the EU, no matter how limited their activity. The reporting requirements cover all aspects of these transactions, including life-cycle events and re-use of collateral, and are therefore complex.

In order to meet the regulator’s demand for complete, accurate and timely data, firms are devoting considerable resources to the speedy remediation of rejected or unreconciled reports. It is likely that, at least initially, a high percentage of reports will be rejected or be qualified as incomplete or inaccurate, primarily due to poor drafting of the regulation and accompanying material.

This course provides a systematic and detailed insight into reporting repos under SFTR that uniquely incorporates the results of the work by the industry (the ICMA SFTR Task Force) on interpreting the regulatory requirements, filling in the gaps and dealing with the contradictions and mistakes.

Key learning objectives:

  • What is the level of collateral reporting (trade-level or net exposure)?

  • Explain collateral update reports

  • How is collateral used in repo?

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Expert
Richard Comotto

Richard Comotto

Senior Visiting Fellow at the ICMA Centre at the University of Reading, consultant to the International Capital Market Association (ICMA) and its European Repo and Collateral Council (ERCC). Technical expert to the IMF, Asian Development Bank and Frontclear market development company on money market and repo market development in Asia and Africa.

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