Additional Forms and Documents
Recommended procedures to comply with Treasury regulations implementing the Government Securities Act of 1986, as amended, which require all government securities brokers and dealers to close out certain failed Government Securities transactions. Under these regulations, brokers and dealers must take prompt steps to obtain possession and control of Government Securities that are the subject of a Fully Paid Fail or a Sell Order Fail.
Revised model consent language in the form of a written instruction that can be used by dealers to authorize their clearing bank to provide certain transaction related information relating to fails in the May 2013 Ten–Year Treasury Note to the Fixed Income Clearing Corporation (FICC).
Guidelines created to eliminate confusion, promote greater efficiency and promote trading practice uniformity in the markets for government securities. The Guidelines further limit the recommended instances when the cash markets should go “subject” recommending they do so only for significant Fed Open Market Operations which signal a change in the Federal Reserve Bank’s monetary policy, for discount rate changes, and for major occurrences that are expected to have a significant effect on the government securities markets (e.g. a presidential assassination, a national state of emergency). Markets should stay “live” for all other events/economic numbers including Fed Daily Open Market Operations, and Fed coupon passes and bill passes.
OTC Options Agreements
An agreement for use when parties may enter into transactions in which over-the-counter (OTC) options are written on underlying instruments that are in each case (i) direct obligations of, or obligations guaranteed as to principal or interest by, the United States, (ii) securities issued or guaranteed by a corporation in which the United States has a direct or indirect interest, or (iii) such other instruments as may be specified in a Confirmation or otherwise agreed between the parties in a separate Annex.
- Master OTC Options Agreement (2000 Version)
- Master OTC Options Agreement (2000 Version) – Guidance Notes
- OTC Option Transactions – U.S. Treasury Securities, Master Dealer Agreement (1989 Version)
Recommended guidelines for trading in the repo markets.
- Restated Repo Trading Practice Guidelines
- Update No. 2014-1 – Treatment of Treasury Floating Rate Notes
- Update No. 2009-1 – Rescission of Negative Rate Repo Trading Guideline
- Update No. 2006-1 – Negative Rate Repo Trading Guideline
- Update No. 2004-2 – Prompt Delivery Trading
- Update No. 2004-1 – Same-Day Extension of Collateral Allocation Deadlines
- Update No. 2003-1 – Same-Day Extension of Collateral Allocation Deadlines
- Update No. 2001-1 – Good Delivery Guidelines
- Update No. 1999-2 – Acceptable Collateral for CMO Repo Transactions
- Update No. 1999-1 – Year 2000 Contingency Planning
- Update No. 1998-4 – General Collateral Repo Allocations
- Update No. 1998-3 – Timing of Collateral Substitutions
- Update No. 1998-2 – Confidential Nature of Transactions
- Update No. 1998-1 – Recommendations for When Cash Government Securities Markets Should Go Subject
- Update No. 1997-1 – TIPS Repurchase Agreement Transactions
- Update No. 1996-1 – Optional Substitution / Termination Provision
Recommended trading practice guidelines for U.S. Treasury Inflation-Indexed Securities. Created to improve market efficiencies by establishing standard trading, clearance and settlement practices that are consistent with current market practices and needs, while preserving flexibility where needed.
A policy paper recommending issuances of long-dated debt securities be maintained by the U.S. Treasury for as long as is practical.
Treasury and Agency Security Fails Charge Trading Practices
Find both documents under Fails Charge Trading Practices
Recommendations that, as a good business practice, all market participants who are regularly engaged in the forward trading and delivery of mortgage-backed, asset-backed and other securities execute a written agreement governing their business relationship.