Delay in Treasury Payments: Discussion of Scenarios

This deck and related playbook represents work undertaken by SIFMA members along with key market infrastructure stakeholders to understand the operational aspects of a delay in payment on U.S. Treasury securities. While any delay is unlikely, delays may be caused by any number of issues (including systems failures, natural disasters, terrorist acts or other reasons) and the group that developed this believed that it would be helpful to share as a resource for market participants. The assumptions in the deck will be reviewed from time to time and updated as necessary. The playbook has been included and outlines a schedule of industry-wide calls that will be held were there to be a potential or actual delay in a payment. The overarching purpose of these calls is to disseminate accurate and real time information to market participants so that they can make appropriate decisions for their firms. This will also be revisited from time to time and updated as appropriate.

Any questions may be forwarded to: Tom Price at 212.313.1260, Rob Toomey at 212.313.1124 or Charles Desimone at 212.313.1224.