Over the past few weeks, the U.S. Office of Financial Research (OFR) has published a trio of papers looking at various aspects of central counterparties (CCPs). These papers range from the best way to stress test CCPs, to the adequacy of CCP margin requirements and the relative risks and utility of central clearing to repo markets.

On January 27, 2016, the Office of Financial Research (OFR), an arm of the Treasury Department created under the Dodd-Frank Act, issued its fourth annual report to Congress. The report highlights the results of OFR research, risks to financial markets, and OFR priorities for the coming year. Notable among its findings, the report suggests that reforms mandating central counterparties in the formerly OTC swaps market could unintentionally increase systemic risk in the long run rather than reducing it.   

Pending and proposed regulatory reforms are likely to have major effects on the future of the securities finance industry. To better understand the changing environment and how industry participants can best prepare, BrightTalk.com assembled a panel of experts from State Street and the International Securities Lending Association (ISLA) in a webinar format to discuss the future of the industry and how new regulations may change it.