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TMPG Seeks Comment on Proposed Best Practice Recommendations on Clearing and Settlement

The Treasury Market Practices Group (TMPG) is proposing updates to its Best Practices for Treasury, Agency Debt and Agency Mortgage-Backed Securities Markets to incorporate recommendations supporting efficient clearing and settlement in these markets. The proposed best practice recommendations address several risk and resiliency issues identified by TMPG members in the consultative White Paper on Clearing and Settlement in the Secondary Market for U.S. Treasury Securities published in July 2018.

TMPG Seeks Comment on Proposed Best Practice Recommendations on Clearing and Settlement pdf April 18, 2019

Treasury Market Practices Group Proposed Practice Guidance on Clearing and Settlement pdf April 18, 2019

TMPG Encourages Market Attention to Best Practice Recommendations During the Transition to Uniform Mortgage-Backed Security (UMBS)

The Treasury Market Practices Group (TMPG) views the change in market structure arising from the Federal Housing Finance Agency’s (FHFA) Uniform Mortgage-Backed Security (UMBS) initiative as an opportune time for market participants to review the TMPG Best Practices for Treasury, Agency Debt and Agency Mortgaged-Backed Securities Markets (Best Practices). The UMBS initiative will align Fannie Mae and Freddie Mac Mortgage-Backed Securities (MBS) such that both will be considered good delivery for a single UMBS TBA contract. Today, the TMPG published a note that highlights the importance of existing TMPG Best Practices for the MBS market, in light of this recent announcement.

TMPG Encourages Market Attention to Best Practice Recommendations During the Transition to UMBS pdf March 13, 2019

TMPG Note on Best Practice Recommendations During the Transition to UMBS pdf March 13, 2019

TMPG Encourages Implementation of Best Practice Recommendations on Information Handling

The Treasury Market Practices Group (TMPG) today encouraged further implementation of its January 22, 2018 updates to the Best Practices for Treasury, Agency Debt and Agency Mortgage-Backed Securities Markets that incorporate recommendations related to the appropriate handling and use of confidential information. In announcing these updates, the TMPG recommended that market participants implement the information handling best practices by December 31, 2018. To best support the goals of these recommendations, the TMPG urges market participants to engage with their counterparties and be aware of their practices for handling confidential information.

TMPG Encourages Implementation of Best Practice Recommendations on Information Handling pdf January 8, 2019

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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