SIFMA provides comments to the Securities and Exchange Commission (SEC) on filings by the National Securities Clearing Corporation (NSCC) concerning the NSCC’s proposed rule change to institute supplemental liquidity deposits designed to increase liquidity resources to meet its liquidity needs (SLD Proposal), SR-NSCC-2013-02, SR-NSCC-2013-802.

SIFMA shares its concerns regarding the NSCC’s Amendment No. 2 to the SLD Proposal and the discriminatory impact that the proposal would have on NSCC members that are not affiliated with banks, relative to those that are affiliated with banks.