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TMPG Publishes White Paper on Delayed Payment Contingency Planning

The TMPG released a white paper entitled "Operational Plans for Various Contingencies for Treasury Debt Payments" - a technical reference on some of the trading, clearing, settlement, and other operational challenges that might arise in the unlikely event of a delayed payment on Treasury debt.

White paper on "Operational Plans for Various Contingencies for Treasury Debt Payments" pdf
December 23, 2013

TMPG Releases Updates to Agency MBS Margining FAQs

In response to feedback from market participants, the Treasury Market Practices Group (TMPG) has provided further guidance regarding the scope of its recommendation to margin forward-settling MBS transactions and considerations when implementing this best practice recommendation. The TMPG recommends that market participants substantially complete the process to exchange two-way variation margin on forward-settling MBS exposures by December 31, 2013.

Frequently Asked Questions: Margining Agency MBS Transactions pdf
October 25, 2013

TMPG Recommends Market Practices to Support More Timely Trade Confirmation in the Tri-Party Repo Market

The Treasury Market Practices Group (TMPG) broadened the Best Practices for Treasury, Agency Debt, and Agency Mortgage-Backed Securities Markets by incorporating recommendations to support more timely trade confirmation in the tri-party repo market in order to promote the integrity and efficiency of tri-party repo settlement.

TMPG Announces Market Practice Recommendations to Support More Timely Trade Confirmation in the Tri-Party Repo Market pdf
May 23, 2013

Best Practices for Treasury, Agency Debt and Agency MBS Markets pdf
May 23, 2013

TMPG Seeks Public Comment on Proposed Market Practice Recommendations to Support More Timely Trade Confirmation in the Tri-Party Repo Market

The Treasury Market Practices Group (TMPG) today proposed broadening the existing “Best Practices for Treasury, Agency Debt, and Agency Mortgage-Backed Securities Markets” by incorporating practices that support more timely trade confirmation in the tri-party repo market. The TMPG has requested public comment on the proposed market practices by May 17, 2013.

TMPG Proposes Market Practice Recommendations to Support More Timely Trade Confirmation in the Tri-Party Repo Market pdf
April 19, 2013

TMPG Releases Updates to Agency MBS Margining Recommendation

The Treasury Market Practices Group (TMPG) updated its recommendation regarding the margining of forward-settling agency mortgage-backed securities (MBS) transactions. Specifically, the TMPG modified its recommended implementation timeline and clarified two aspects of the margining recommendation in response to feedback received from market participants. The TMPG believes that these updates will provide the time and guidance needed by market participants to implement this practice guidance.

TMPG Releases Updates to Agency MBS Margining Recommendation pdf
March 27, 2013

Frequently Asked Questions: Margining Agency MBS Transactions pdf
April 11, 2013

TMPG Revises Agency MBS Fails Charge Trading Practice

The Treasury Market Practices Group (TMPG) today announced a modification to the agency mortgage-backed securities (MBS) fails charge trading practice. The TMPG is removing the two-day resolution period from the practice recommendation. Consequently, an agency MBS settlement fail will be subject to a charge for each calendar day the fail is outstanding, even if the delivery occurs on either of the first two business days following the contractual settlement date.

TMPG Revises Agency MBS Fails Charge Trading Practice pdf
March 1, 2013

Agency Debt and Agency MBS Fails Charge Trading Practice pdf
April 1, 2013

Frequently Asked Questions: TMPG Fails Charges pdf
April 1, 2013

QUICK LINKS
  Best Practices
  Treasury Securities Fails Charge Trading Practice
  Agency Debt and Agency MBS Fails Charge Trading Practice
  FAQ: TMPG Fails Charges
  Operational Plans for Various Contingencies for Treasury Debt Payments
  Synopsis of Recommendations
  Liberty Street Economics Blog Post, TMPG: A Consequential First Decade
  FRBNY Staff Report, TMPG: Creation and Early Initiatives

EXTERNAL LINKS
  U.S. Treasury
  Securities Industry and Financial Markets Association
  The Depository Trust and Clearing Corporation
Treasury Fails Data
GCF Repo Index
  International Swaps and Derivatives Association

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