NEAM Insights

Change is on the way for UK GAAP reporters with FRS 102 “The Financial Reporting Standard Applicable in the UK and Republic of Ireland” being adopted by the UK Financial Reporting Council (FRC) with effect from 2015. Read More

Regulatory Development In November of 2012, the Treasury Market Practices Group (“TMPG”), an industry group sponsored by the New York Fed, announced “best practices” guidance for forward-settling agency mortgage backed securities (MBS). In keeping with the growing regulatory concern surrounding systemic risk, TMPG now recommends that parties post collateral, or margin, to mitigate counterparty risk owing to market value changes. The new regulation applies to the primary dealers (the twenty one trading counterparties of the New York Fed) and, by extension, to entities that trade with the primary dealers. The new guidance will apply to all trades with a contractual settlement greater than one business day (three business days for CMOs), with implementation targeted for January 1, 2014. Read More