On March 1, the FHFA extended the Home Affordable Refinance Program until June 30, 2011. The program was originally set to expire on June 10, 2010. FHFA Release.
Month: March 2010
SEC and IRS Municipal Bond Enforcement
On March 2, the SEC and the IRS signed a Memorandum of Understanding to coordinate efforts to monitor and regulate the municipal bond market and industry. The two agencies will work through a Tax Exempt Bond/Municipal Securities Committee to discuss policy, procedures, and compliance issues. SEC Release.
Market Participants Letter on OTC Derivatives Markets
On March 1, OTC derivatives market participants released a letter to various primary supervisory agencies outlining their commitment to strengthening the infrastructure of the OTC derivatives markets by: (i) increasing transparency, (ii) providing for robust, accessible, and efficient central clearing, (iii) moving towards product, processing, and legal standardization in each asset class, (iv) continuing to enhance bilateral collateralization arrangements, and (v) improving operational performance with a focus on ‘electronification’, straight-through-processing, and trade date matching, affirmation, and processing. Participants’ Letter.